Part II: Durations and Bond Price Changes 6. ABC, Inc. has a bond with a coupon rate of 8 percent, ten years to maturity, and a current price of $1,000. Assume par value is $1,000 and coupons are paid semiannually. What is the Macaulay duration? 7. Find the modified duration of an 10% coupon bond making semiannual coupon payments with a par value of $1,000 if it has five years until maturity and an 8% yield to maturity