ou are considering a $2-$year, $$40$ million, corporate bond issued by Happy Vally of America $($HVA$).$ The coupon rate of HVA bond is $6\%,$ paid annually, and its YTM is $9\%.$ What is the modified duration of HVA bond?

A$.$

$1\mathrm{.}92$ years

B$.$

$1\mathrm{.}36$ years

C$.$

$1\mathrm{.}78$ years

D$.$

$1\mathrm{.}48$ years