I need clear solution of following two questions.

1. Find the modified duration of an 8.5% coupon bond making annual coupon payments if it has three years until maturity and a yield to maturity of 6%. Answer is 2.622

2. Assume the following information for Design Flaw Engineering, Inc. Beta coefficient= 1.50 Risk-free rate= 6% Expected rate of return on market= 14% Plowback ratio= 60% Expected ROE (based upon beginning equity)= 20% Estimate Design Flaws leading earnings multiple (i.e., its P-E ratio). Answer is 6.67