3. Consider the following information and assume that both bonds pay interest annually, so that the below yields are annualized with periodicity of 1 (effective annual yields) 3% 3% Coupon YTM Maturity Par Price 9% 3% $100.00 $100.00 $100.00 $103.9927 a. Calculate the Macaulay duration b. Calculate the modified duration C. Calculate the duration-predicted price change resulting from an increase in yields to 9% d. Calculate the actual price change resulting from an increase in yields to 996. e. Do your answers in (c.) and (d.) differ? Why or why not? f. If your investment horizon is 2 years and you would like to form an immunized portfolio what proportion of your portfolio will consist of A