Type	Treasury	Corporate
Yield to Maturity	2.06%	3.68%
Coupon	2.25%	3.50%
Settlement Date	7/1/2020	7/3/2020
Maturity Date	12/15/2023	12/15/2023

a) Using duration, estimate the price of the bond for a 100bp increase in interest rates.

b) How could the estimate be improved?

c) Does the use of duration alone overestimate or underestimate the price then rates increase?

d) Does the use of duration alone overestimate or underestimate the price then rates decrease?