Suppose now that you are a life insurance company projecting to pay benefits of $50 per year for the next 5 years to your policyholders, and then $100 per year for the next 5 years after that. The first $50 is to be delivered one year from now. You are operating in an economy where the term structure of interest rates is completely flat at 4%, so that all spot rates are 4%. Calculate the present value of your benefit obligations. Calculate the duration of your benefit obligations.