Duration is: O a. Always longer than maturity O b. Always the same as matunty O c Normally shorter than maturity Od. Always shorter than maturity 39) Duration equals maturity if O a. All cash flows are paid at the end of the year O b. The coupon rate equals the market rate Oc The bond is a zero-coupon bond O d. More than one of the above Duration is affected primarily by O a. The maturity of the bond O b. The market rate of interest OCThe coupon rate O d. All of the above The duration of a 40-year, $1,000 bond at a market rate of 4 percent is the duration of an identical bond at a market rate of 6 pe O a Greater than O b. Less than OcEqual to O d. There is not enough information to tell