. You are give the following information about an asset: (6) The () The Macaulay and modified durations for the asset are computed using an effective annual present values of the cash flows at an effective annual interest rate of 435% is 100,000. interest rate of 4.35%. (ii) The estimate of the present value of the cash flows at an effective annual interest rate of 4.20% using the first order Macaulay approximation is 101,122. Determine the modified duration of the asset at 4.35% 3 of 5 . You are give the following information about an asset: (6) The () The Macaulay and modified durations for the asset are computed using an effective annual present values of the cash flows at an effective annual interest rate of 435% is 100,000. interest rate of 4.35%. (ii) The estimate of the present value of the cash flows at an effective annual interest rate of 4.20% using the first order Macaulay approximation is 101,122. Determine the modified duration of the asset at 4.35% 3 of 5