Coupon 3% 9% Price ($) $939.98 1,300.10 Cash Payments ($) Year 1 Year 2 Years 3 to 6 $30 $30 $30 90 90 90 Year 7 $1,030 1,090 Calculate the duration and modified duration for the 3% bonds in the table shown above. Assume annual coupon payments and a yield to maturity of 4 percent. (Do not round intermediate calculations. Round your duration to 3 decimal places and the modified duration to 2 decimal places.) Duration Modified Duration 3% coupon bond