(a) The face value and annual coupon rate of a 10 -year bond is $1000 and 6% respectively. In addition, the bond pays coupon monthly. The annual effective yield rate of the bond is i=4%. (i) Calculate the current price, Macaulay duration and modified convexity of the bond with respect to the annual effectively interest rate. (ii) Using second order approximation, estimate the price of the bond when the annual effective yield rate is raised to 4.8%