A 30-year maturity, 6.75% coupon bond currently sells at a par value of $25,000 with a YTM of 6.75%. The duration of the bond is 12 years, and its convexity measure is 425.37. Assume the YTM decreases to 4.35%.

A. Calculate the modified duration.

B. Calculate the percentage change in the value of the bond using modified duration. This is the approximation method.

C. Calculate the percentage change in the value of the bond using the convexity measure.

D. Calculate the current price of the bond using the approximation method of duration and the effect of the decrease in interest rates.

E. Calculate the current price of the bond using the convexity measure of duration and the effect of the decrease in interest rates.

Answer all: "A" through "E"

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