22. Now, suppose that the answer from question 21 that you got for Macaulay's duration was 2.65 years (it isn't), and using the same information given in that problem (3-year semi-annual coupon bond with a $1,000 par value, an 8 percent annual coupon rate, and a 6 percent annual yield to maturity) use modified duration to calculate the estimated percent change in the bond's price if interest rates were to fall by percent and state whether the price rises or falls.