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

If interest rates suddenly rise by 2 percent, what is the percentage price change of Bond J? multiple choice 1 -12.72% -11.72% -13.70% -13.72% If interest rates suddenly rise by 2 percent, what is the percentage price change of Bond K? multiple choice 2 22.30% -9.65% -11.65% -11.63% If interest rates suddenly fall by 2 percent, what is the percentage price change of Bond J? multiple choice 3 16.34% 16.32% -36.48% -13.74% If interest rates suddenly fall by 2 percent, what is the percentage price change of Bond K? multiple choice 4 13.59% 1.00% -11.67% 13.71%