Compute the Duration for the Data in This Problem Using

Multiple Choice

Compute the duration for the data in this problem using a discount rate of 12%.

$\begin{array}{c}\begin{array}{|c|}\hline\\\hline\text {Year, t} \\\hline1\\\hline2\\\hline3\\\hline3\\\hline\end{array}\begin{array}{c|}\hline \text{Cash}\\\hline\text {Flow}\\\hline90\\\hline90\\\hline90\\\hline1000\\\hline\end{array}\end{array}$

A) 3.00 years
B) 2.95 years
C) 2.85 years
D) 2.75 years
E) 2.65 years