P11.23 A bond has a Macaulay duration equal to 8.3 and a yield to maturity of 6.2%. What is the modified duration of this bond? P11.24 A bond has a Macaulay duration of 8.42 and is priced to yield 7%. If interest rates go up so that the yield goes to 7.5%, what will be the percentage change in the price of the bond? Now, if the yield on this bond goes down to 6.5%, what will be the bond's percentage change in price? Comment on your findings