Azusa Auto has a 7-year, 8% annual coupon bond with a $1,000 par value. Glendora Auto has a 14-year, 8% annual coupon bond with a $1,000 par value. Both bonds currently have a yield to maturity of 6%. Which of the following statements are correct if the market yield increases to 7%?

Group of answer choices

The Glendora bond will increase in value by $57.75

The Glendora bond will decrease in value by 7.56%.

The Azusa bond will increase in value by 5.25%.

Both bonds would decrease in value by 5.20%.

The Glendora bond will decrease in value by $98.44.