A bond has a coupon rate of 6 percent, with payments semi-annually. It matures in 2.5 years and has a yield to maturity of 7 percent (15 points). a. Use the long method to determine the duration and modified duration of this bond? b. If the yield to maturity increases to 9 percent, what is the approximate percent change in price based on the modified duration calculated in a? c. What is the actual percentage change in price if the yield to maturity increases to 9 percent? d. What is a reason for the difference in prices between b and c?