5. Bond Duration Find the duration of a 7% coupon bond making annual coupon payments if it has three years to maturity and a yield to maturity of 6%. (Assume annual compounding and a face value of $1,000) (a) Calculate the MaCaulay Calculation of this bond on the MaCaulay duration computed in (a), if the level of required yield, which iscurrently at 6%, goes up by 0.30%, how much do you expect the price of this bond to change (in percentage terms)