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Davie Corp's bonds pay annual coupons. The coupon rate is 8% and the ytm is 8%. The bonds have 4.0 years left to maturity. What

Davie Corp's bonds pay annual coupons. The coupon rate is 8% and the ytm is 8%. The bonds have 4.0 years left to maturity. What is duration for Davie Bonds? (4 pts). If interest rates rise by 66 basis points annually, what is modified duration (percentage change in price) for Davie bonds and what is the new price for Davie bonds? (4 pts)

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