Choose the correct answer to finish the sentence below (Hint - You do not need any calculations to answer this question):

Larry is considering two bonds, Bond L and Bond M, with the following characteristics:

	Bond L	Bond M
Price	$1,000	$1,000
Par value	$1,000	$1,000
Annual Interest Payment	$90	$90
Maturity	17 years	28 years

If the yields to maturity on the two bonds change from 9% to 8%,

Group of answer choices

both bonds will increase in value, but bond M will increase more than bond L

both bonds will increase in value, but bond L will increase more than bond M.

both bonds will decrease in value, but bond L will decrease more than bond M.

both bonds will decrease in value, but bond M will decrease more than bond L.