If an N$-$year security recovered the same percentage of its cost in present value terms each year, the duration would be:

Multiple Choice

N$.$

$0.$

sum of the years$/$N$.$

N$!$N$2.$N$!$N$2.$

N$2$N$!.$If an N$-$year security recovered the same percentage of its cost in present value terms each year, the duration would be:

Multiple Choice

N$.$

$0.$

sum of the years$/$N$.$

N$!$N$2.$N$!$N$2.$

N$2$N$!$