An investor wants to find the duration of a(n) 30 -year, 7% semiannual pay, noncallable bond that's currently priced in the market at $473.62, to yield 15%. Using a 250 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 250 basis points (or 2.5% ) is S (Round to the nearest cent.)