A company just issued a bond with the following characteristics:

Maturity = 3 years

Coupon rate = 8%

Face value = $1,000

YTM = 10%

Interest is paid annually and the bond is noncallable.

Calculate the bonds Macaulay duration ?Round "Present value" to 2 decimal places and "Duration" to 4 decimal place.?

Calculate the bonds modified duration

Assuming the bonds YTM goes from 10% to 9.5%, calculate an estimate of the price change without considering convexity

Calculate the convexity of the bond.