Question 9 Not yet saved Marked out of 2.00 Today is 1 July, 2019. Carole has a portfolio which consists of two different types of financial instruments (henceforth referred to as instrument A and instrument B). Carole purchased all instruments on 1 July 2015 to create this portfolio, which is composed of 30 units of instrument A and 25 units of instrument B. Flag question Instrument A is a zero-coupon bond with a face value of $100. This bond matures at par. Its maturity date is 1 January 2029. Instrument B is a Treasury bond with a coupon rate of j2=2.78% p.a. and a face value of $100. This bond matures at par. Its maturity date is 1 January 2022. What is the duration of instrument B? Express your answer in terms of years and round your answer to three decimal places. Assume a yield rate of 12=4.72% p.a. a. 4.861 years b. 2.896 years c. 2.431 years d. 5.791 years