6. Duration of a 4-year par bond (i.e., its price = $1,000) 1) Calculate the duration of this 4-year par bond that has an annual coupon rate of 6.5% and a remaining time to maturity of 4 years. 2) Suppose the market yield over the next year is expected to go down by 30 basis points (i.e., 0.30%). Estimate the following for this 4-year par bond: a) The bonds expected price change b) Your expected return over the next year