Bond J has a coupon rate of 5 percent. Bond K has a coupon rate of 11 percent. Both bonds have 8 years to maturity, make semiannual payments, and have a YTM of 6 percent. If interest rates suddenly rise by 4 percent, what is the percentage price change of Bond J?

multiple choice a -21.21% -22.19% -22.21% -20.21%

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

multiple choice b -17.77% 39.84% -19.75% -19.77%

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

multiple choice c 30.26% -22.23% -27.09% 30.24%

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

multiple choice d 6.42% -19.79% 26.38% 26.50%