1. You have discovered that when the required rate of return on a bond you own fell by 0.50 percent from 9.75 percent to 9.25 percent, the fair present value rose from $975 to $995. The bond pays interest annually. Given this information, the duration of the bond is

A) 4.5026 years

B) 4.1026 years

C) 4.5325 years

D) 4.1378 years

E) 4.5287 years