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looking for a step by step solution please. Coupon Rates (per Year) 6% 8% 10% 12% Years to Maturity 1 5 0.985 0.981 0.976 0.972

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Coupon Rates (per Year) 6% 8% 10% 12% Years to Maturity 1 5 0.985 0.981 0.976 0.972 4.361 4.218 4.095 3.990 10 7.454 7.067 6.772 6.541 10.922 10.292 9.870 9.568 20 Infinite (perpetuity) 13.000 13.000 13.000 13.000 Table 16.3 Bond durations (yield to maturity = 8% APR; semi-annual coupons) Coupon Rates (per Year) 6% 8% 10% 12% Years to Maturity 1 5 0.985 0.981 0.976 0.972 4.361 4.218 4.095 3.990 10 7.454 7.067 6.772 6.541 10.922 10.292 9.870 9.568 20 Infinite (perpetuity) 13.000 13.000 13.000 13.000 Table 16.3 Bond durations (yield to maturity = 8% APR; semi-annual coupons)

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