Consider the following two-bond portfolio of option-free bonds;Bond A Bond B Years to maturity 5 years 10 years Coupon rate 5% 5% Par value XXXXXXXXXXYield to maturity 8% 6% Par amount owned R3,45...

Consider the following two-bond portfolio of option-free bonds;Bond A Bond B Years to maturity 5 years 10 years Coupon rate 5% 5% Par value 1000 1000 Yield to maturity 8% 6%
Par amount owned R3,45 million R2 million
Market value R30 367.59 (in 000’s) R18 528 (in 000’s)
Without doing any calculations, which bond would have a higher duration