A bond will pay a coupon of $100$ at the end of each of the next ten years and will pay the face value of $1,000$ at the end of the ten$-$year period.

The bond's duration $($Macaulay duration$)$ when valued using an annual effective interest rate of $8\%$ is X$.$

Calculate X$.$

A

$6\mathrm{.}57$

B

$6\mathrm{.}67$

C

$6\mathrm{.}77$

D

$6\mathrm{.}87$

E

$6\mathrm{.}97$