A bond of $1000 was issued five years ago at a coupon rate of 6%. The bond had a maturity period of 10 years to be redeemable at par. The market interest rate currently is 10%. a. Determine the value of the bond. b. Calculate the Modified Duration. c. Calculate the expected price change if tomorrow interest rates increases from 10% to 11.5% d. Calculate the expected price change if next year the interest rates will increase from 10% to 12%