Question 15 6 pts 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 At least 2.9 but le 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 pts (Continued from the last question.) Calculate the modified duration of the bond. O 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 At least 2.6 but less than 2.7 years Question 17 5 pts (Continued from the last question) Approximate the percent change in present price when the yield rate drops to 5.9%. O 196 or more price decrease 0 0.25% to 0.5% price decrease O 0.5% to 1% price increase 0 0.25% to 0.5% price increase O 0.5% to 1% price decrease 1% or more price increase 0 to 0 25% price decrease 00% to 0.25 price Increase