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Cash flow 1 consists of three payments: A in 5 periods, B in 10 periods...

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Accounting

Cash flow 1 consists of three payments: A in 5 periods, B in 10 periods and C in 15 periods. Cash flow 2 consists of 2 payments: x in 6 periods and Y in 12 periods. As of now, at yield j per period for all maturities, the two sets of cashflows have the same present value and the same Macaulay duration. Suppose that one period from now the yield is still j for all maturities. Show that
(a) the two sets of cash flows will have the same present value;
(b) the two sets of cash flows have the same Macaulay duration at that time; and
(c) the Macaulay duration one period from now is exactly 1 less than it is now.
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