Consider three bonds with 5.00% coupon rates, all making annual coupon payments and all selling at face value. The short-term bond has a maturity of 4 years, the intermediate-term bond has a maturity of 8 years, and the long-term bond has a maturity of 30 years.

a.What will be the price of the 4-year bond if its yield decreases to 4.00%?(Do not round intermediate calculations. Round your answers to 2 decimal places.)

b.What will be the price of the 8-year bond if its yield decreases to 4.00%?(Do not round intermediate calculations. Round your answers to 2 decimal places.)