Bond J has a coupon rate of 3 percent. Bond K has a coupon rate of 9 percent. Both bonds have 8 years to maturity, make semiannual payments, and have a YTM of 7 percent.

If interest rates suddenly rise by 4 percent, what is the percentage price change of Bond J? multiple choice 1 -23.28% -23.30% -21.30% -22.30% If interest rates suddenly rise by 4 percent, what is the percentage price change of Bond K? multiple choice 2 -18.12% -20.10% -20.12% 29.77% If interest rates suddenly fall by 4 percent, what is the percentage price change of Bond J? multiple choice 3 31.91% 31.89% -23.32% -41.85% If interest rates suddenly fall by 4 percent, what is the percentage price change of Bond K? multiple choice 4 -9.46% 27.03% 26.91% -20.14%