The term structure is flat at 6%. A bond has 10 years to maturity and coupon rate 8%. Coupon payments are semiannual, par values are 100, and interest rates are expressed as semiannual APRs. (a) Compute the bond price. (b) Compute the bond's Macaulay and modified duration. (c) Suppose the term structure moves up by 5 basis points (1 basis point = 0.01%), still staying flat. What is the bond's new price? (d) Compute the approximate price change using duration, and compare it to the actual price change.