An investor wants to find the duration of $a(n)30-$year, $5\%$ semiannual pay, noncallable bond that's currently priced in the market

at $$368\mathrm{.}24,$ to yield $14\%.$ Using a $100$ basis point change in yield, find the effective duration of this bond $($Hint$.$ use

Equation $11\mathrm{.}11).$

The new price of the bond if the market interest rate decreases by $100$ basis points $($or $1\%)$ is $

$($Round to the nearest cent.$)$