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Calculate the Macaulay duration of a 9%, $1,000 par bond that matures in three years if the bond's YTM is 14% and interest is paid

Calculate the Macaulay duration of a 9%, $1,000 par bond that matures in three years if the bond's YTM is 14% and interest is paid semiannually.

Calculate this bond's modified duration. Do not round intermediate calculations. Round your answer to two decimal places.

years

Assuming the bond's YTM goes from 14% to 13.0%, calculate an estimate of the price change. Do not round intermediate calculations. Round your answer to three decimal places. Use a minus sign to enter negative value, if any.

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