Problem 13-08 Compute the Macaulay duration under the following conditions: a. A bond with a four-year term to maturity, a 10% coupon (annual payments), and a market yield of 8%. Do not round Intermediate calculations. Round your answer to two decimal places. You may use Appendix Cto answer the questions. Assume $1,000 per value, years b. A bond with a four-year term to maturity, a 10% coupon (annual payments), and a market yield of 13%. Do not round intermediate calculations. Round your answer to two otcimal places. You may use Appendix to answer the questions. Assume 1,000 per value years c. Compare your answers to Parts a and , and discuss the implications of this for classical Immunization As a market yield increases, the Macaulay duration Saint If the duration of the portfolio from Partais equal to the desired investment hortion the portfolio from Porto Sectw perfectly immunized