You are given the following information on zero-coupon bonds:

Maturity (years) 1 2 3

Price (% of par value) 95.057034220532 90.358397548035 85.89201287836

John has an asset that gives him $1350 every year for the next two years.

(a) Calculate the modified duration of this asset.

(b) Suppose the market yield rate increases by 0.3%, using the first-order modified approximation, calculate the new value/price of Johns asset.

no excel please:)