Before doing a lot of research and taking ACE444, you decided (by some friend's indication) to buy a 10 year principal STRIP bond with a par value of $1000, and yield-to-maturity of 2%. You bought it in January 1, 2015. After studying treasuries, you decide to analyze your decision. 1. You don't remember exactly what you paid for the bond in 2015 but you found out the spot rate curve at that time of your purchase (see table at the end and handout). Note that at the time, it was a negative yield curve. Please calculate what was the price you paid in 2015 for your bond. 2. Also, calculate the macaulay and modified duration (in years) for your bond, and interpret those.Spot rates curves table Period (semi-annual) Maturity Spot Rate_in 2015 Spot Rate in 2020 0.5 0.0300 0.0095 1 0.0277 0.0092 1.5 0.0263 0.0090 4 2 0.0254 0.0087 2.5 0.0246 0.0085 3 0.0240 0.0083 3.5 0.0235 0.0081 4 0.0230 0.0079 4.5 0.0226 0.0077 5 0.0223 0.0075 5.5 0.0220 0.0072 12 6 0.0217 0.0069 13 6.5 0.0214 0.0066 14 7 0.0212 0.0063 15 7.5 0.0209 0.0060 16 8 0.0207 0.0057 17 8.5 0.0205 0.0054 18 9 0.0203 0.0051 19 3.5 0.0201 0.0048 20 10 0.0200 0.0045