Based on the difference in the book value and fair value of Hormel's 4.125% senior unsecured notes due April 2021 as of October 30, 2016, what can you infer?

Hormel's market interest rates on borrowing have increased since the notes were issued.

Hormel's market interest rates on borrowing have remained the same since the notes were issued.

Hormel's market interest rates on borrowing have declined since the notes were issued.