4. Your client is considering investing in one of the two Treasury bonds which have a face value of $100,000 and pay cqupons at the rate of 10% semi-annually. Bond P has four years to maturity and bond Q has eight years to maturity. Your client would like to know: (a) If the current interest rate is 7.5% p.a., what are the prices of the two bonds? (b) If the interest rate rises to 12% p.a., what are the prices of the two bonds? (c) What are the observations can be made based on these results? (10 marks)