3. Bond Valuation and Changes in Maturity and Required Returns: Suppose Hillard Manufacturing sold an issue of bonds with a 10-year maturity, a 1,000 par value, a 10 per cent coupon rate, and semi-annual interest payments a. Two years after the bonds were issued, the going rate of interest on bonds such as these fell to 6 per cent. At what price would the bonds sell? b. Suppose that 2 years after the initial offering, the going interest rate had risen to 12 per cent. At what price would the bonds sell? c. Suppose that 2 years after the issue date (as in part a) interest rates fell to 6 per cent. Suppose further that the interest rate remained at 6 per cent for the next 8 years. What would happen to the price of the bonds over time