A bond portfolio named DEX, comprises four bonds (face value=$1000):

1) 50 semi-annual bond, 5-year maturity, a coupon rate of 4%.

2) 100 annual bonds, 30-year maturity, 8% coupon bond.

3) 150 zero coupon bonds, 10-year maturity.

4) 200 zero coupon bonds, 20-year maturity.

YTM (discount rate) : 6%

duration of DEX: 14.23

5. According to price-duration formula with modified duration (MD), when interest rate increases from 6% to 7%, the DEXs market value should fall by? Will the answer be the same using Macaulays duration as using modified duration?