Consider a 15-year 8% semiannual bond with par value $1,000.

The following questions are about the yield value of a price change:

(1) What is the bond price if the current yield is 8.5%? (2.25 points)

(2) What is the yield if the bond price increase by $75? (2.25 points)

(3) What is the yield value of a $75 increase for the bond? (2.25 points)

The following questions are about the price value of a basis point:

(4) What is the bond price at yield 8.51%? (2.25 points)

(5) What is the price value of a basis point? (1 point)