Calculate the Macaulay duration of a 10%,$1,000 par bond that matures in three years if the bond's 1TM is 14% and interest is paid semiannualiy, You may wse Appendix C to answer the questions. a. Calculate this bond's modified duration. Do not round intermediate calculations. Round your answer to two decimal places. years b. Assuming the bond's YTM goes from 14% to 13.5%, calculate an estimate of the price change. Do not round intermediate calculaticns Rlound your answer to three decimal places. Use a minus sign to enter negative value, if any. 96