You don't need to write a detailed procedure, just write the answer please.

Seed Pty Ltd has issued an annual 6.5% p.a. coupon-bearing bond that will mature in 5 years' time with a par value of $1,000. The current price of this is trading on the bond markets at $1,025.30, which implies a yield to maturity of 5.901%. a. Calculate the Macaulay duration of this bond. (4 marks) b. Calculate the volatility of this bond. (4 marks) c. Explain what the volatility value of this bond is measuring. (4 marks) d. Would an investor expect the Macaulay duration of this bond to increase or decrease if the coupon rate was 10% p.a. instead (all else being equal)? Explain