An investor wants to find the duration of a(n) 10-year, 10% semiannual pay, noncallable bond that's currently priced in the market at $940.25, to yield 11%.

Using a 100 basis point change in yield, find the effective duration of this bond

(Hint: use Equation 11.11). The new price of the bond if the market interest rate decreases by 100 basis points (or 1%) is

$enter your response here.

(Round to the nearest cent.)The new price of the bond if the market interest rate increases by 100 basis points (or 1%) is

$enter your response here.

(Round to the nearest cent.)

The effective duration of the bond is

need answered fast thanks