Suppose you're a financial analyst who has been asked to provide some general information about duratio of information: n as well as duration analysis of several bonds. You've determined the following two pieces Bond A has a Macaulay duration of 6.5 years and a yield to maturity Bond B has a Macaulay duration of 5.8 years and a yield to maturity of 10.1.

a) Which of the two has a higher modifed duration? Show your work and explain how you arrived at

b). You're also analyzing a U.S. Treasury STRIPS with a maturity of 6 years and a current value of $456 your answer What's the Macaulay duration (also known as effective duration) of this STRIPS? Show your work and how you arrived at your answer.