Consider a(n) Five-year, 12 percent annual coupon bond with a face value of $1,000. The bond is trading at a rate of 9 percent. a. What is the price of the bond? b. If the rate of interest increases 1 percent, what will be the bonds new price? c. Using your answers to parts (a) and (b), what is the percentage change in the bonds price as a result of the 1 percent increase in interest rates? (Negative value should be indicated by a minus sign.) d. Repeat parts (b) and (c) assuming a 1 percent decrease in interest rates.

PLEASE EXPLAIN ALL NUMBERS AND STEPS. IF ABLE TO ALSO INCLUDE FINANCIAL CALCULATOR STEPS. THANKS