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Consider the following a. What is the duration of a two-year bond that pays an...

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Consider the following a. What is the duration of a two-year bond that pays an annual coupon of 12 percent and whose current yleld to maturity is 16 percent? Use $1,000 as the face value (Do not round intermediate calculations. Round your answer to 3 decimal places. (e.g. 32.161)). b. What is the expected change in the price of the bond if interest rates are expected to increase by 0.3 percent? (Negative amount should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal places. (6.9.. 32.16)) Duration of bond b. Expected change in the price

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