a. A T-bond with semi-annual coupons has a coupon rate of 7%, face value of $1,000, and 2 years to maturity. If its yield to maturity is 5%, what is its Macaulay Duration? Answer in years, rounded to three decimal places.

b. A semi-annual coupon bond has MacD of 25.6 years, yield-to-maturity of 5.1%, and price of $1146.43. What is its DV01? Answer in dollars, rounded to three decimal places.

c. You own a bond portfolio worth $54,000. You estimate that your portfolio has an average YTM of 5.7% and a Modified Duration of 15 years. If your portfolio's average YTM were to decrease by 3 basis points, how much would the value of your portfolio change? Round to the nearest cent. [Hint: Answer is positive if the portfolio value increases and negative if the value decreases]