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Bond J has a coupon rate of 4 percent. Bond K has a coupon rate of 9 percent. Both bonds have 6 years to maturity,

Bond J has a coupon rate of 4 percent. Bond K has a coupon rate of 9 percent. Both bonds have 6 years to maturity, make semiannual payments, and have a YTM of 9 percent.

a. If interest rates suddenly rise by 4 percent, what is the percentage price change of Bond J?

b. If interest rates suddenly rise by 4 percent, what is the percentage price change of Bond k?

c. If interest rates suddenly fall by 4 percent, what is the percentage price change of Bond J?

d. If interest rates suddenly fall by 4 percent, what is the percentage price change of Bond K?

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