Mart Corporation bonds have a $1,000 face value and will mature in four years. The bonds have a 7 percent coupon rate. Interest is paid annually, and the required rate of return is 6 percent for these bonds. a)What is the Macaulay duration of the Mart corporate bonds?

b)If interest rates increase 50 basis points, what will be the approximate price change in dollars ($) for the Mart bond?

please answer in 1 hour