The Carence Corporation has issued bonds that pay semiannually with the following characteristics: a. Calculate modified duration using the informotion provided. Do not round intermedate calculations. Round your answer to two decimal places. Use only the data prove in the table above (in the problem statement) for your caltulations. years b. What is a better meawre when calculating the bond's sensilivity to chasges in interest rates? is a better measure of the bond's sensitivity to changes in intereat rates as considers only the finat cash flow, while includes other factors. c. Identify the direction of change in modified duration if: 1. the coupon of the bond were 10%, not 8%. Msdified duration as the coupon increases. 2. the maturity of the bond were 6 years, not is yoars. Modined duretion as maturity decreates