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Question 14.11 Consider two annuities that have the same yield and make annual payments. The first annuity is a level 3-year annuity-due, and its Macaulay

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Question 14.11 Consider two annuities that have the same yield and make annual payments. The first annuity is a level 3-year annuity-due, and its Macaulay duration is 0.96. The second annuity is a level 4-year annuity-due, and its Macaulay duration is X. Calculate X. A 1.1 B 1.3 C 1.4 D 2.0 E 2.4

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