Consider two bonds, a 3-year bond paying an annual coupon of 5%, and a 20-year bond, also with an annual coupon of 5% Both bonds currently sell at par value. Now suppose that interest rates rise and the yield to maturity of the two bonds increases to 8% a. What is the new price of the 3-year bond? (Round your answer to 2 decimal places.) Price of the 3-year bond b. What is the new price of the 20-year bond? (Round your answer to 2 decimal places.) Price of the 20-year bond c. Do longer or shorter maturity bonds appear to be more sensitive to changes in interest rates? O Longer Shorter