Penny Pensions will pay a client $17,000 once a year for a 10-year period. The first payment will come in exactly five years. The pension fund wants to immunize its position. a. What is the duration of Penny Pensions' obligation to her client? The current interest rate is 11.0% per year. b. If Penny Pensions uses 5-year and 20-year zero-coupon bonds to construct the immunized position, how much money ought to be placed in the 5-year zero-coupon bond? Complete this question by entering your answers in the tabs below. Required A Required B What is the duration of Penny Pensions' obligation to her client? The current interest rate is 11% per year. (Do not round intermediate calculations. Round your answer to 4 decimal places.) Duration years Required A Required >