You will be paying $12.800 a year in tuition expenses at the end of the next two years. Bonds currently yield 8% Required: Q. What are the picsent value and duration of your obtigation? (Do not round intermediete calculations. Round "Present value" to 2 decimal places and "Duration" to 4 decimal places.) b. What is the duration of a zero-coupon bond that would immunize your abligation and its future iedemption vaiue? (Do not round intermediote calculotions, Round "Ouration" to 4 decimol ploces and "Future redemption value" to 2 decimal places.) c. Suppose you buy a zero-coupon bond with value and duration equal to your obligation. Now suppose that rates immectiately increase to 9%. What happens to your net position, that is, to the difference between the value of the bond and that of your tuition obligation? (Enter your answer as o positive volue. Do not round intermediate colculations. Round your answer to 2 decimal ploces.) Answer is complete but not entirely correct. Net position changes by d. Suppose you buy a zero-coupon bond with value and duration equal to your obligation. Now suppose that rates inmediately falls to 76 What happens to your net position, that is to the difference between the value of the bond and that of your furtion obligation? (Enter your answer as o positive value. Do not round intermediate coleuletions. Aound your answer to 2 decimal piaces.) Answer is complete but not entirely correct