You purchase a bond today (settlement date) which is November 15, 2022. The bond matures on November 15, 2032 (maturity = 10 years). The bond pays a 10% coupon annually and has a par value of $1,000. The yield to maturity of the bond is 8%. (1 point) What are the Macaulay duration and modified duration of the bond? You do not need to show your calculation steps for this subquestion. (1 point) Suppose that the yield to maturity of the bond decreases by 1.5% (= becomes 6.5%). According to the modified duration, what will be the approximate % change in the price of the bond? Show your calculation steps briefly and clearly. (1 point) Calculate the price of the bond at the initial yield (8%) and new yield (6.5%). What is the actual (not approximate) % change in the price of the bond when the yield decreases from 8% to 6.5%? You do not need to show your calculation steps for this subquestion. (1 point) The convexity of the bond is 57.083. What will be the % change in the price of the bond according to the duration-with-convexity approximation? Show your calculation steps briefly and clearly.