Question 14.07 An asset has cash flows of 50,000 at the end of 2 years, 35,000 at the end of 3 years, and 120,000 at the end of 4 years. The annual effective yield of the asset is 6%. Calculate the asset's Macaulay duration. A 2.3 B 2.9 C 3.1 D 3.3 E 3.5