Assume that Nebraska Medicine sold bonds that had a 10-year maturity, an 8% coupon rate with annual payments, and a $1,000 par value. Answer the following questions.

A) Two years after these bonds were issued, the required interest rate fell to 3%. What is the value of a Nebraska Medicine bond now?

B) Now suppose that, two years after the bonds were issued, the required interest rate rose to 12%. What would be the bond's value in this case?