Cash $20 Deposits historical avg. maturity - 4 years; historical average duration=3.5 years $200 T-Bills 30 days (4.5 percent, par) $50 Certificates of Deposit avg. maturity = 6 months, avg. duration 6 months $140 T-Bills 91 days (5.0 percent, par) $90 Short-term Debt avg. maturity = 5 years $200 Commercial Loans avg. maturity = 9.0 years; avg. duration = 7.5 years $300 Long-term debt avg. maturity - 15 years; average duration = 12 years $200 Consumer Loans avg. maturity = 6.0 years, avg. duration - 4.0 years $200 Equity $120 Mortgage Loans - Fixed rate avg. maturity = 30 years; avg. duration = 15 years $150 Mortgage Loans - Adjustable avg. maturity = 30 years, interest rate reset=6 months $50 Total Assets: $860 Total Liabilities & Equity: $860 Question #1 I The short-term debt (note the liabilities) consists of 5-year bonds paying an annual coupon of 4 percent and selling at par. What is the duration of the short-term debt