Concept:
Chemistry (Chemical Kinetics) - Half-life of First Order Reactions.
Step 1: Identify the given value.
Rate constant ($k$) = $2.772 \times 10^{-3} s^{-1}$.
Step 2: State the formula for half-life.
For a first-order reaction, the half-life ($t_{1/2}$) is calculated using:
$$ t_{1/2} = \frac{0.693}{k} \text{} $$
Step 3: Substitute and calculate.
$$ t_{1/2} = \frac{0.693}{2.772 \times 10^{-3} s^{-1}} \text{} $$
$$ t_{1/2} = \frac{0.693}{0.002772} s \text{} $$
$$ t_{1/2} = 250 \text{ s} \text{} $$
$$
\therefore \text{The half-life of the reaction is 250 seconds.}
$$