You are considering a corporate bond that pays out an interest of $1 million in year 1, $2 million in year 2, and $3 million in year 3. If the expected yield for the firm is 8%, what is the duration of this bond?

	A.	2.29 years
	B.	2.15 years
	C.	2.01 years
	D.	2.53 years

You want to buy a bond issued by iCare Corp. The iCare bond has a par value of $1 million and a coupon rate of 10%. The coupons are paid annually, and the bond matures in 3 years. The cost of debt for the bond is 8%. If the yield increases by 50 basis points, what is the actual percentage of price change?

	A.	-1.2583%
	B.	1.2583%
	C.	-2.5166%
	D.	2.5166%