Suppose that you purchase a bond that matures in five years and pays a 13.76 percent coupon rate. The bond is priced to yield 10 percent, pays coupon semiannually. Calculate the duration and modified duration of the 5-year bond. Use your answer for part a to calculate the new bond price assuming that the YTM rises by 100bp to 11 percent. Then, calculate the new bond price using the bond valuation formula. Then, compare your answers for new bond price using the two methods. Explain precisely!