Company A issued a 7-year 4% coupon bond that pays interest semi-annually with a face value of $10,000,000 when the YTM was 4.5%. What was the annual Macaulay Duration of this bond when it was issued? Consider using the formula you learned in lecture because excel will not be available for quizzes and exams. [Set your financial calculator to AT LEAST 4 decimal places when you are performing your manual computations and round your answer to 2 decimal places.]