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Problem $3-41($LG $3-8)$

You have discovered that when the required rate of return on a bond you own fell by $0\mathrm{.}5$ percent from $9\mathrm{.}5$ percent to $9$ percent, the fair present value rose from $$975$ to $$985.$ The bond pays interest annually. What is the duration of this bond? Assume annual payments. $($Do not round intermediate calculations. Round your answer to $1$ decimal place. $($e$.$g$.,32\mathrm{.}1))$

$\backslash$table$[[$Duration of this bond,,years$]]$