Find the duration of a bond with a settlement date of May 27, 2023, and maturity date November 15, 2034. The coupon rate of the bond is 8.0%, and the bond pays coupons semiannually. The bond is selling at a bond-equivalent yield to maturity of 8.0%. Use Spreadsheet 16.2. (Do not round intermediate calculations. Round your answers to 4 decimal places.)

Mascaulay Duration ______

Modified Duration ________

F. 40 E PV of CF (Discount rate = 5% per period) =D4/(1+$B$16) B4 =D5/(1+$B$16) B5 =D6/(1+$B$16) B6 =D7/(1+$B$16) B7 =SUM(E4:E7) G Column (C) times Column (F) =F4*C4 =F5*C5 =F6*C6 =F7*C7 =SUM(G4:47) Weight =E4/E$8 =E5/E$8 =E6/E$8 =E7/E$8 =SUM(F4:F7) 1.5 D Time until 2 Payment 3 Period (Years) Cash Flow 4 A. 8% coupon bond 1 0.5 5 2 1 40 6 3 40 7 4 2 1040 8 Sum: 9 10 B. Zero-coupon 1 0.5 0 11 2 1 0 12 3 1.5 0 13 4 2 1000 14 Sum: 15 16 Semiannual Int rate: 0.05 Spreadsheet 16.2 Spreadsheet formulas for calculating duration =D 10/(1+$B$16) B10 =E10/E$14 =F10*C10 =D11/(1+$B$16) B11=E11/E$14 =F11'C11 =D12/(1+$B$16) B12=E12/E$14 =F12*C12 =D13/(1+$B$16)^B13 =E13/E$14 =F13*C13 = SUM(E 10:E13) =SUM(F10:F13) =SUM(G10:13) =