Question 15 6 pt A $100 bond with 9% annual coupons matures at par in 3 years, and its yield rate is 6%. Calculate the Macaulay duration At least 2.7 but less than 2.8 years Less than 2.6 years O At least 2.9 but less than 3.0 years At least 3.0 years At least 2.8 but less than 2.9 years At least 2.6 but less than 2.7 years Question 16 3 pt (Continued from the last question.) Calculate the modified duration of the bond. At least 3.0 years At least 2.9 but less than 3.0 years O less than 2.6 years At least 2.8 but less than 2.9 years At least 2.7 but less than 2.8 years O At least 2.6 but less than 2.7 years (Continued from the last question) Approximate the percent change in present price when the yield rate drops to 5.9%. 1% or more price decrease O 0.25% to 0.5% price decrease 0.5% to 1% price increase 0.25% to 0.5% price increase 0.5% to 1% price decrease 1% or more price increase 0% to 0.25% price decrease 0% to 0.25% price increase