6 Consider two bonds, a 3-year bond paying an annual coupon of 6.40% and a 10-year bond also with an annual coupon of 6.40%. Both currently sell at a face value of $1,000. Now suppose interest rates rise to 10%. a. What is the new price of the 3-year bonds? (Do not round intermediate calculations. Round your answer to 2 decimal places.) 10 points Bond price eBook Print References b. What is the new price of the 10-year bonds? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Bond price c. Which bonds are more sensitive to a change in interest rates? Long-term bonds Short-term bonds