Question $6$

The current price of an Ajax Corp bond is $100\mathrm{.}50.$ If the yield increased by $25$ basis points $($bp$)$ the price would decline to $98\mathrm{.}35$ while

if the yield decreased by $25$ bp the price would increase to $102\mathrm{.}25.$ What is the effective duration of the bond?

Select one

A$.1\mathrm{.}95$

B$.3\mathrm{.}88$

C$.7\mathrm{.}76$

D$.15\mathrm{.}52$