23) a. What is the duration of a 4-year bond that pays a 9% coupon annually and has a par value of $1,000 if its yield to maturity (YTM) is 6%? Hint: Setup columns for Time/Year, Cash Flow, PV(Cash Flow), Weight, and Time x Weight. b. What is the expected percentage price change in the bond's value if interest rates go up 1%? Use the assumptions for the current YTM given in part (a) and your answer for duration