Assume an investor purchases a corporate bond with a 16-year maturity and a Par of $1,000. The bond has a 6 percent coupon rate which pays semiannual payments. The open market interest rate (YTM) for this bond is 7.00 percent. Based upon this information, answer the following questions. [4 parts] (10 pts.] Show all work. Clearly label your answers for Part A, Part B, Part C, and Part D. Carry all calculations out to four (4) decimal places (except dollars and cents). Highlight in bold your answer for each part. a) Determine the bond's current price. (3 pts) b) If the bond has a Macaulay duration (Dmac) value of 10.19, what is the bond's current Modified duration (Dmod)? (2 pts.) C) If open market interest rates (YTM) decrease by 30 basis points, what is the predicted price change in percent (%) based on the bond's Modified duration (Dmod)? (Note: Watch your sign (+/-) in your calculation.) (3 pts) d) After the 30 basis point drop, what will be the bond's new price ($)? (2 pts)