1. Apple issued $14 billion of bonds recently (2021). Explain the following two quotes from the article, long-dated corporate bonds like Apple's could experience losses as long-term Treasury yields climb." and "...the company might want to borrow for decades at low costs while it is still possible." The first quote is from the perspective of the buyers while the second is from the perspective of the seller (Apple). Why would rising long-term Treasury yields lead to losses on Apple's bonds? (think spread in basis points). How would an investor keep from losing money on the bonds if rates rise? The table below provides information about the issues. Coupon rate Bond maturities Amount issued 0.70% Notes due 2026 $ 2,500,000,000 1.20% Notes due 2028 $ 2,500,000,000 1.65% Notes due 2031 $ 2,750,000,000 2.38% Notes due 2041 $ 1,500,000,000 2.65% Notes due 2051 $ 3,000,000,000 2.80% Notes due 2061 $ 1,750,000,000 What percent of the total amount issued was in maturities greater than 11 years? If the bonds were issued for par ($100), what would be the price of the ten year bond if rates rise by 2% in five years? (Remember rates refer to the yield to maturity not the coupon rate and the ten year bond will then be a 5 year bond)