This is the end of 2022 and you hold a bond maturing at the end of 2027 with a coupon of $50, paid at the end of each year. Noe that on it is a 5-year bond, 2023, 2024, 2025, 2026, and 2027. The face value of the bond is $1,000. The current yield to maturity of the bond is 4%. a. What is the duration of the bond? b. Suppose that the yield on the bond increased (at the beginning of 2020) from 4% to 4.1%. By what percentage would the price of the bond likely to decline?