A $1,000 par value bond was issued 35 years ago at an 8 percent coupon rate. It currently has 10 years remaining to maturity. Interest rates on similar debt obligations are now 16 percent. (Use a Financial calculator to arrive at the answers. Do not round intermediate calculations. Round the final answers to 2 decimal places.) a. Compute the current price of the bond using an assumption of semiannual payments. Price of the bond $ 607.23 b. If Mr. Mitchell initially bought the bond at par value, what is his percentage loss or gain)? (Input the amount as positive value.) Percentage Loss 39.28 % c. Now assume Mrs. Gordon buys the bond at its current market value and holds it to maturity, what will her percentage return be? (Input the amount as positive value.) Percentage Gain 64.68 % d. Although the same dollar amounts are involved in parts band c, explain why the percentage gain is larger than the percentage loss. Investment is larger Investment is smaller