A bond has a Macaulay duration of 6.5 years, a yield to maturity of 8.4 percent, a coupon rate of 7.8 percent, and semiannual interest payments. The bond is selling for $982 (a) (2 points) What is the bond's modified duration? (b) (2 points) If interest rates decline by 35 basis points, what is the dollar amount of the predicted change in the bond's price? Note that 1 percent is 100 basis points. (c) (2 noints) if interest rates increase by 20 basis points, what is the dollar amount of the predicted change in the band's price? Note that 1 percent is 100 basis points Paragraph BI 66