What is the duration of a two-year bond that pays an annual coupon of 3 percent and has a current yield to maturity of 6 percent? Use $1,000 as the face value. Round your calculations/answers to two decimals. Hint 1: Step 1. Step 2: Hint 2: McDUR = PV(cash flows weighted by year of receipt) / PV(cash flows)

Group of answer choices

1.91 years

1.95 years

1.97 years

1.93 years

1.99 years