The Clarence Corporation has issued bonds that pay semiannually with the following characteristics: a. Calculate modified duration using the information provided. Do not round intermediate calculations. Round your answer to two decimal places. vie only the data provided in the table above (in the problem statement) for your calculations. yedirs b. What is a better measure wherhtalculabing the bonid's sensitivity to changes in interest rates? is a better measure of the bondi sensitivity to changes in interest rates as includes other foctors. eonsiders only the final cash flow, while c. Identify the direction of change in modifled duration if: 1. the coupon of the bond were 10%, not-12\%. Modified duration as the coupon decreases. 2. the maturity of the bond were 7 years, not 15 years. Modified duration as maturity decreases