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What is the duration of a 9 per cent coupon bond making annual coupon payments if it has three years until maturity and has a

What is the duration of a 9 per cent coupon bond making annual coupon payments if it has three years until maturity and has a YTM of 9 per cent? For columns 4 and 5, work to four decimal places.

YTM = 9 per cent
(1) (2) (3) (4) (5)
Time until payment (years) Cash flow PV of CF (discount rate = 9 per cent) Weight Column (1) x Column (4)
1 $90.00 $
2 $ 90.00 $
3 $1090.00 $
Column sums: $1000.00 1.0000

Duration, to three decimal places equals = [?] years

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