What is this assets duration if the interest rate is 8, Financial Management

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What is this assets duration if the interest rate is 8

Assume that an asset has the following end-of-year cash payments

Year Payment

1 $2000

2 $3500

3 $4200

4 $1500

What is this asset's duration if the interest rate is 8%? Using duration, estimate the percentage change in the price of the asset if the interest rate decreased to 7%.

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Financial Management: What is this assets duration if the interest rate is 8

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Financial Management: What is this assets duration if the interest rate is 8

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