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A bond with a coupon rate of 8 percent sells at a yield to maturity of 9 percent. If the bond matures in 10 years,

A bond with a coupon rate of 8 percent sells at a yield to maturity of 9 percent. If the bond matures in 10 years, what is the Macaulay duration of the bond? What is the modified duration

Note: Do not round intermediate calculations. Round your answers to 3 decimal places.

Answer is complete but not entirely correct.

	Duration
Macaulay	7.147selected answer incorrect	years
Modified	6.560selected answer incorrect	years

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