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Bond J is a 4.2 percent coupon bond. Bond K is a 8.2 percent coupon bond. Both bonds have 10 years to maturity and have

Bond J is a 4.2 percent coupon bond. Bond K is a 8.2 percent coupon bond. Both bonds have 10 years to maturity and have a YTM of 6 percent.

a. If interest rates suddenly rise by 1 percent, what is the percentage price change of these bonds?

b. If interest rates suddenly fall by 1 percent, what is the percentage price change of these bonds?

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