Please do NOT round intermediate calculations. Round final answer to TWO decimal places. For Question C) Menu options are increases/decreases. Thanks!

a. Calculate modified duration using the information provided. Do not round intermediate calculations. Round your answer to two decimal places. Use only the data provided in the table above (in the problem statement) for your calculations. years b. What is a better measure when calculating the bond's sensitivity to changes in interest rates? is a better measure of the bond's sensitivity to changes in interest rates as considers only the final cash flow, while includes other factors. c. Identify the direction of change in modified duration if: 1. the coupon of the bond were 16%, not 12%. Modified duration the coupon increases. 2. the maturity of the bond were 6 years, not 14 years. Modified duration as maturity decreases