An investor buys a two-year bond with a 6% coupon rate paid semi-annually. The bond, with a yield to maturity of 7% is purchased at a price of 98.16346 per 100 of par value. Assume a 5 bp change in yield-to-maturity. Create the calculation, using values, for the bond’s approximate modified duration. In other words, use the formula for the approximation rather than for the actual duration calculation. (Not with excel)