Use the data in the following table to calculate a. The effective duration when rates increase from 4% to 4.2% b. The effective duration when rates decrease from 4% to 3.5%

4% Coupon 10-year T-note Yield to Maturity Price 4.50% 97.78 4.20% 99.11 4.00% 100.00 3.80% 100.90 3.50% 102.28