1.

LKD Co. has 10 percent coupon bonds with a YTM of 8.2 percent. The current yield on these bonds is 9.6 percent. How many years do these bonds have left until they mature? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

2.

A bond with a coupon rate of 7 percent sells at a yield to maturity of 9 percent. If the bond matures in 15 years, what is the Macaulay duration? (Do not round intermediate calculations. Round your answer to 3 decimal places.)