Bond Ratings and Prices A corporate bond with a 6.5 percent coupon has 15 years left to maturity. It has had a credit rating of BBB and a yield to maturity of 7.2 percent. The firm has recently gotten into some trouble and the rating agency is downgrading the bonds to BB. The new appro- priate discount rate will be 8.5 percent. What will be the change in the bond's price in dollars and percentage terms? (Assume interest payments are semiannual.) (LG7)