Both Bond Sam and Bond Dave have 7 percent coupons, make semiannual payments, and are priced at par value. Bond Sam has 4 years to maturity, whereas Bond Dave has 18 years to maturity.(Do not round your intermediate calculations.)

Requirement 1:

(a)	If interest rates suddenly rise by 3 percent, what is the percentage change in the price of Bond Sam?
	(Click to select)-9.67%-10.74%-9.69%11.01%9.90%

(b)	If interest rates suddenly rise by 3 percent, what is the percentage change in the price of Bond Dave?
	(Click to select)-33.01%-24.82%38.25%-24.80%27.66%

Requirement 2:

(a)	If rates were to suddenly fall by 3 percent instead, what would the percentage change in the price of Bond Sam be then?
	(Click to select)-9.64%10.97%11.04%9.90%10.99%

(b)	If rates were to suddenly fall by 3 percent instead, what would the percentage change in the price of Bond Dave be then?