Exhibit 18.2 Use the Information Below for the Following Problem(S)

Exhibit 18.2
Use the Information Below for the Following Problem(S)
Talmart Corporation bonds have a $1,000 face value and will mature in 4 years. The bonds have a 7% coupon rate. Interest is paid annually and the required rate of return is 6 percent for these bonds.
-Refer to Exhibit 18.2.What is the Modified duration of the Talmart corporate bonds?

A) 3.43
B) 3.64
C) 3.76
D) 3.85
E) 4.11