On January 1, 2019 a company has bonds outstanding with a face value of 1000. These bonds will be redeemed at the end of every year during the life of th bond, which matures on December 31, 2022,for a proportional part of the face value (i.e if the bond is a T-year bond with face value of FV, it makes a payment of FV/T at the end of every year, which means that it will pay off the entirety of FV in T years). Coupon payments of 9% are made once per year on Decembe 31.The yield to maturity on these bonds is 11%. The following statement can be made with regard to the duration of these bonds: a. Duration2.40years b 2.35 years Duration<2.40 years c. Duration<2.25 years d. 2.30years Duration<2.35 years e. 2.25years Duration<2.30years