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What is the duration of a two-year annual bond that pays an annual coupon of 11.8 percent and has a current yield to maturity of

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What is the duration of a two-year annual bond that pays an annual coupon of 11.8 percent and has a current yield to maturity of 12.3 percent? Use $1,000 as the face value. Choose the closest answer after rounding off. (Do not round intermediate calculations. Round your answer to 4 decimal places. (e.g., 32.1616)) None of the provided answers is correct 1.9005 years. 1.9850 years. 1.8850 years. 1.8940 years

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