Period	6-Month rate
1	1.5
2	1.7
3	2.11
4	2.98
5	3.71
6	4.01
7	4.82
8	5.13
9	5.45
10	6.25

What is the price and Macaulay duration of a semi-annual coupon bond whose face value is $1,000 with 4 year maturity and annual coupon rate of 5.4%?v

Now suppose a semi-annual bond with 5 year maturity that has 13% as annual coupon rate. If you want to short futures contract with this bond at $1020, how much of a dollar profit would you realize if the maturity of this futures is after fourth coupon payment?

(hint: current price of bond = PV of all future remaining coupon payment and face value.)