You invest in a fixed-income portfolio that has only two annual-coupon bonds. The YTM for both bonds is 7.0%. What is t

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You invest in a fixed-income portfolio that has only two
annual-coupon bonds. The YTM for both bonds is 7.0%.
What is the portfolio duration, that is, the
duration of both instruments considered together, using the prices
of the bonds? (Hint: This is not just the arithmetic
average of the two individual bond durations.)
A) 4.29 years
B) 5.02 years
C) 5.08 years
D) 6.25 years
E) 6.01 years