8.(30 points) Consider a 6% bond that matures in two years, pays interest semi-annually and has a 5% yield-to maturity. What is the bond's Macaulay Duration, Modified Duration and Convexity? What is the estimated percentage price change implied by duration and convexity if the market rates increase by 1.5%? 8.(30 points) Consider a 6% bond that matures in two years, pays interest semi-annually and has a 5% yield-to maturity. What is the bond's Macaulay Duration, Modified Duration and Convexity? What is the estimated percentage price change implied by duration and convexity if the market rates increase by 1.5%