Question $11$

$5$ pts

A bond has a maturity of $5$ years, a face value of $$1,000,$ a coupon rate of $13$ percent, and pays interest annually $($i$.$e$.,$ one payment per year$).$ The yield$-$to$-$maturity of $10$ percent. Given this information, determine the duration of the bond.

Truncate your answer to $2$ decimal places. For example, if your answer is $2\mathrm{.}666$ years, enter $"2\mathrm{.}66".$