Question: Please use calculations. I cannot use excel. A 30-year maturity bond making annual coupon payments with a coupon rate of 12% has duration of 11.54

Please use calculations. I cannot use excel. A 30-year maturity bond makingPlease use calculations. I cannot use excel.

A 30-year maturity bond making annual coupon payments with a coupon rate of 12% has duration of 11.54 years and convexity of 192.4. The bond currently sells at a yield to maturity of 8%. If yield to maturity falls to 7%, what price would be predicted by the duration-with-convexity rule? $1,309.29 $1,619.23 $1,605.28 $1,295.34

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