Bond A has a price of 2,750 at an annual effective yield rate of 6%. The modified duration of the bond is 12. Bond B has a price of 2,000 at an annual effective yield rate of 6%. The modified duration of the bond is ModDB. If the annual yield rate drops by 2%, both estimated bond prices increase by the same dollar amount using the first-order Macaulay approximation. Calculate ModDB. A 13.5 B 14.2 C 15.8 D 16.5 E 18.1