13, A liability has a present value of 300,000 at 4.5% effective. The modified duration of the liability at 4.5% is 10, LetX the present value of the liability at 4% effective using the first order modified approximation. Let Y = the present value of the liability at 4% effective using the first order Macaulay approximation. Determine X - Y. (A)-951 (B)-419 (C) 261 (D) 315 (E) 936