An investment fund owns the following portfolio of 3 different types of bonds: Amount Invested Bond Bond Type Par value of Coupon each bond Rate Time to Yield-to- Maturity Maturity $2 million A Annual coupon bond $100 8% Exactly 3 years 7 7% $3 million B Zero-coupon $100 bond none Exactly 5 years 10% $5 million C Perpetuity $100 4% Infinite 7% 2. What is the average annual Macaulay duration for the portfolio using the shares of market value as the weights? Round your answer to three decimal places 97 105 136 53 48