Bond J has a coupon rate of 5 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 8 percent. If interest rates suddenly rise by 4 percent, what is the percentage price change of Bond J? -16.77% -17.77% -17.75% -15.77% If interest rates suddenly rise by 4 percent, what is the percentage price change of Bond K?

-16.47% -16.49% -14.49% 20.91%

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

22.54% 22.52% -29.34% -17.79%

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

-16.51% 20.77% 20.65% -11.58%