What is the duration of the liability?

Problem 13 Intro A corporate pension plan has to make the following payments over the next few years: Year 1234 Amount ($ million) 23 27 33 41 The appropriate interest rate is 6%. Part 1 What is the present value of the liability (in $ million)? 105.33 Correct CFI CF2 CF3 CF4 23 27 33 41 1.06 1.062 1.063 1.064 = 105.91 (million) Part 2 What is the duration of the liability? 2+ decimals Submit Attempt 1/3 for 10 pts. Attempt 1/3 for 10 pts.