Required:

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 $7\mathrm{.}4\%.$

Note: Do not round intermediate calculations. Round your answers to $4$ decimal places.

What is the duration if the yield to maturity is $11\mathrm{.}4\%?$

Note: Do not round intermediate calculations. Round your answers to $4$ decimal places.

YTM Duration

a$.7\mathrm{.}4\%$ YTM Years $=$

b$.11\mathrm{.}4\%$ YTM Years$=$