8.29 New South Wales Treasury has issued 25-year bonds that pay semiannual coupons at a rate of 9.875 per cent. The current market rate for similar securities is 11 per cent. a. What is the bond's current market value? b. What will be the bond's price if rates in the market (i) decrease to 9 per cent or (ii) increase to 12 per cent? c. Refer to your answers in part b. How do the interest rate changes affect premium bonds and discount bonds? d. Suppose the bond were to mature in 12 years. How do the interest rate changes in part b affect the bond prices