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Bond J has a coupon of 6.6 percent. Bond K has a coupon of 10.6 percent. Both bonds have 20 years to maturity and

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Bond J has a coupon of 6.6 percent. Bond K has a coupon of 10.6 percent. Both bonds have 20 years to maturity and have a YTM of 6.8 percent. a. If interest rates suddenly rise by 1.2 percent, what is the percentage price change of these bonds? Note: A negative value should be indicated by a minus sign. Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places. Bond J Bond K %A in Price % % b. If interest rates suddenly fall by 1.2 percent, what is the percentage price change of these bonds? Note: Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places. %A in Price Bond J % Bond K %

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