A 4% annual coupon bond has 5 years remaining until maturity and is priced to yield 6%.

(a) What is the price per 100 of par?

(b) For this bond, estimate the price value of a basis point by first considering an increase in yield and then a decrease in yield.

(c) Now show that for very small price changes, the absolute value of a bonds price change does not differ much conditional on whether the yield change is a rise or a fall in yield.

Thanks