Calculate the requested measure for bonds A and B (assume each bond pays interest semi annually):

	Bond A	Bond B
Coupon	8%	9%
YTM	8%	8%
Maturity (years)	2	5
Par	100.00	100.00
Price	100.000	104.055

1.) Calculate the duration for the two bonds by changing the yield up and down 25 basis points.

2.) Calculate the duration for the two bonds by changing the yield up and down by 10 basis points.

3.) Calculate the Macaulay duration for the two bonds.

4.) Calculate the modified duration for the two bonds.