Both Bond C and Bond D have 8 percent coupons, make semiannual payments, and are priced at par value. Bond C has 3 years to maturity, whereas Bond D has 20 years to maturity. If interest rates suddenly rise by 2 percent, what is the percentage change in the price of Bond C? Of Bond D? If rates were to suddenly fall by 2 percent instead, what would the percentage change in the price of Bond C be then? Of Bond D? Illustrate your answers by graphing bond prices versus YTM. What does this problem tell you about the interest rate risk of longer-term bonds?