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Required: a . Find the duration of a 7 % coupon bond making annual coupon payments if it has three years until maturity and a

Required:
a. Find the duration of a 7% coupon bond making annual coupon payments if it has three years until maturity and a yield to maturity of 7.4%.(Do not round intermediate calculations. Round your answers to 4 decimal places.)
b. What is the duration if the yield to maturity is 11.4%?(Do not round intermediate calculations. Round your answers to 4 decimal places.)
\table[[YTM,Duration,],[a.7.4% YTM,,Years],[b.11.4% YTM,,Years]]
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