Approximate Sensitivity of the bond below to a .01% change in rate (ytm). Note that .01% is 1/10000; it's called a basis point. The coupon pays annually.

Face value: 2000000, ytm: 3%, coupon: 4%, maturity: 10

1. Calculate the Duration of the bond.

2. Estimate the sensitivity of the bond using the Duration.

3. Multiply the sensitivity by .01%, What is the dollar difference between these two methods?