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Required: a. Find the duration of a 8% coupon bond making annual coupon payments if it has three years until maturity and has a yield

image text in transcribed Required: a. Find the duration of a 8% coupon bond making annual coupon payments if it has three years until maturity and has a yield to maturity of 8%. Note: The face value of the bond is $1,000. Do not round intermediate calculations. Round your answer to 2 decimal places. b. What is the duration if the yield to maturity is 10% ? Note: The face value of the bond is $1,000. Do not round intermediate calculations. Round your answer to 2 decimal places

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