Compute the duration for bond C, and rank the bonds on the basis of their price volatility. The current rate of interest is 8 percent, so the prices of bonds A and B are $1,000 and $1,268, respectively. Bond A B C Coupon 8% 12% 8% 10 years 10 years 5 years Term Duration 7.25 6.74 ? Confirm your ranking by calculating the percentage change in the price of each bond when interest rates rise from 8 to 12 percent. (Bond As and Bs prices become $774 and $1,000, respectively.)