A. Find the duration of a 9.4% coupon bond making annual coupon payments if it has three years until maturity and has a yield to maturity of 9.4%. Note: The face value of the bond is $1,000. (Do not round intermediate calculations. Round your answer to 3 decimal places.)

b. What is the duration if the yield to maturity is 12%? Note: The face value of the bond is $1,000. (Do not round intermediate calculations. Round your answer to 3 decimal places.)