You will be paying $$12,800$ a year in tuition expenses at the end of the next two years. Bonds currently yield $8\%.$

Required:

What are the present value and duration of your obligation?

Note: Do not round intermediate calculations. Round "Present value" to $2$ decimal places and "Duration" to $4$ decimal places. What is the duration of a zero$-$coupon bond that would immunize your obligation and its future redemption value?

Note: Do not round intermediate calculations. Round "Duration" to $4$ decimal places and "Future redemption value" to $2$ decimal places.