Last year, Forest Products issued both 5-year and 10-year bonds at par. The bonds each have a coupon rate of 5.5 percent, paid semiannually, and a face value of $1,000. Assume the yield to maturity on each of these bonds is now 7.4 percent. What is the percentage change in the price of the 5-year bond since it Calculate the modified duration for the following bond:
$1,000 face value corporate bond with a coupon of 6% paid semi-annually, with 4 years left to maturity, priced at par.
Please show work.was issued? The 10-year bond?