The Economic Interpretation of Duration Is

The economic interpretation of duration is

A) the percentage of the current market price of a security that is accounted for by the book value of the security.
B) the interest elasticity of a security to a small change in interest rates.
C) the maturity elasticity of a security to a small change in cash flows of the security.
D) the price elasticity of a security to a small change in interest rates.
E) The average time it will take to equate the present value of future cash flows from the security to the cost of the security.