11. Which of the following bonds would have the largest change in price (in percentage terms) for a given change in interest rates (that is, in yield to maturity) - for example, if the yield to maturity on a bond decreases from 8% to 6%, all else constant, which of the following bond prices will change the most (in percentage terms)? a. A $1000 par value bond with a 10\% coupon rate (annual payments) that matures in 2 years. b. A $1000 par value bond with a 10\% coupon rate (semi-annual payments) that matures in 25 years. c. A $1000 par value bond with a 2% coupon rate (annual payments) that matures in 4 years. d. A $1000 par value bond with a 2% coupon rate (semi-annual payments) that matures in 30 years. e. The bond that changes the least (in price percentage terms) cannot be determined from the information given. 12. Assume that you have the following information on a project: - The project will yield cash flows of $1500 per year forever, with the first cash flow occurring one year from today. - The NPV of this project is $1450. - The required rate of return is 10.25%. 15. Consider the following projects, for a firm using a discount rate of 10% : If the projects are mutually exclusive, which, if any, project(s) should the firm accept? a. Project A b. Project B c. Project D d. Projects B and D e. Projects A, B and C