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Problem 10-23 Calculating Duration (LO4, CFA6) What is the Macaulay duration of a bond with a coupon of 8.6 percent, twelve years to maturity, and

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Problem 10-23 Calculating Duration (LO4, CFA6) What is the Macaulay duration of a bond with a coupon of 8.6 percent, twelve years to maturity, and a current price of $1,043,70? What is the modified duration? (Do not round intermediate calculations. Round your answers to 3 decimal places.) Duration Macaulay Modified Years Years

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