Problem $11-23($Algo$)$

Required: Find the convexity of a seven$-$year maturity, $6\mathrm{.}6\%$ coupon bond selling at a yield to maturity of $8\mathrm{.}4\%.$ The bond pays its coupons annually. $($Do not round intermediate calculations. Round your answer to $4$ decimal places.$)$

Convexity