You are analyzing this bond with the following characteristics. Suppose today's date is December 15, 2020. Bond matures on December 15, 2035 Annual coupon 3.25%, interest payable semi-annually Yield-to-maturity 4.15% per year Using Excel, determine this bond's Macaulay duration Using your results, suppose on December 15, 2020 the market interest rates (i.e., YTM) increases by 30 BP (i.e. 30 basis points). Calculate the approximate change in this bond's price. [NOTE: If you get strange, unusual, or funny results from Question 3, then you may assume bond Macaulay duration = 14.0 years). Show all work