you have diacovered that when the required rate of return on a bond you own fell 0.5 percent from 8.3 percent to 7.8 percent, the fair present value rose from $955 to $975. The bond pays interest annually. What is the duration of this bond? assume annual payments.

You have discovered that when the required rate of return on a bond you own fell by 0.5 percent from 8.3 percent to 7.8 percent, the fair present value rose from $955 to $975. The bond pays interest annually. What is the duration of this bond? Assume annual payments. (Do not round intermediate calculations. Round your answer to 1 decimal place. (e.g. 32.1)) Duration of this bond I years