Part b.

Consider a 3-year bond with 13 percent semi-annual coupon payments and currently priced to yield 12 per cent per annum.

1. Calculate duration of the bond.
2. What is the percentage of price change if interest rate increases to 12.35% per annum

You should keep atleast 6 decimal points for all numbers in the calculation steps and 2 decimal points in the final answer(both dollar amount and %, i.e.$12.34 and12.34%)