Part B. 1. (6) A bond with par value of $1,000 pays 8% coupon annually and matures in 5 years. Its yield to maturity is 6%. What is the bond's 1) price; 2) duration; 3) current yield? 4) If the YTM decreases to 5.75%, what is the predicted % change in bond's price using the concept of duration?

1. (6) A bond with par value of $1,000 pays 8% coupon annually and matures in 5 years. Its Part B. yield to maturity is 6%. What is the bond's 1) price; 2) duration; 3) current yield? 4) If the YTM decreases to 5.75%, what is the predicted % change in bond's price using the concept of duration