14. Consider a bond that has a coupon of 8 percent paid semiannually and has a maturity of 5 years. The bond is currently selling for $1,047.25. Use Excel to do the following analysis.

a. What is its yield-to-maturity?

b. Compute its duration.

c. If interest rates are expected to increase by 75 basis points, what is the expected dollar change in price? What is the expected percentage change in price?