1. Calculate the duration of a 10%, $1,000 Citigroup Bond that matures in 3 years, if the bond's YTM is 8% and interest is paid semi-annually. Calculate the Macaulay Duration and Modified Duration, using the detailed worksheet method. Assuming that the YTM decreases from 8% to 7.5%, calculate an estimate of the change in price. (100 POINTS) Ma Cavray Duration = (1 + YTM/22/YTM - [colt XTM/27 + MCCPR - YTM)/CYTM + CPR(1 + Y TM / 2 1 - 1)]