Compute the Macaulay duration under the following conditions: a. A bond with a four-year term to maturity, a 9% coupon (annual payments), and a market yield of 7%. Do not round intermediate calculations. Round your answer to two decimal places. You may use Appendix C to answer the questions. Assume $1,000 par value. years b. A bond with a four-year term to maturity, a 9% coupon (annual payments), and a market yield of 11%. Do not round intermediate calculations. Round your answer to two decimal places. You may use Appendix C to answer the questions. Assume $1,000 par value. years c. Compare your answers to Parts a and b, and discuss the implications of this for classical immunization. If the duration of the portfolio from Part a is equal to the desired investment horizon the portfolio from As a market yield increases, the Macaulay duration -Select- v Part bis -Select- v perfectly immunized