a. What is the duration of a two-year bond that pays an annual coupon of 10 percent and whose current yield to maturity is 13 percent? Use $1,000 as the face value. Duration of a bond=

b. What is the expected change in the price of the bond if interest rates are expected to increase by 0.3 percent? (Negative amount should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal places. Expected change in the price =