You are given the following information about a bond: par value: 5000 term to maturity: 2 years annual coupon rate: 6% payable annually You are also given that the one and two year annual spot interest rates are 7% and 8% respectively, a) (2pt] Calculate the value of the bond.(2 decimals) b) [2pt] If the bond is sold at a price equal to its value in part (a), calculate the bond's annual effective yield to maturity. Make sure to clearly setup the equation and solve it without the help of a financial calculator or MS-Excel. (4 decimals, e.g., 0.0532 or 5.32%) c) [2pt] Using the bond's yield rate, calculate the Macaulay duration of the bond in years. (4 decimals)