A perpetuity pays $100 each and every year forever. The duration of this perpetuity will be __________ if its yield is 9%.

A perpetuity pays $100 each and every year forever. The duration of this perpetuity will be __________ if its yield is 9%.

A perpetuity pays $100 each and every year forever. The duration of this perpetuity will be __________ if its yield is 9%. 



A. 7

B. 9

C. 9.39

D. 12.11



Answer: D