An investor wants to find the duration of a(n) 20-year, 7% semiannual pay, noncallable bond that's currently priced in the market at $815.98, to yield 9%. Using a 250 basis point change in yield, find the effective duration of this bond .

The new price of the bond if the market interest rate decreases by 250 basis points (or 2.5%) is $____. (Round to the nearest cent.)

The new price of the bond if the market interest rate increases by 250 basis points (or 2.5%) is $__. (Round to the nearest cent.)

The effective duration of the bond is ___ (Round to two decimal places.)