Consider two bonds, a 3-year bond paying an annual coupon of 7.00% and a 10-year bond also with an annual coupon of 7.00%, Both currently sell at a face value of $1,000. Now suppose interest rates rise to 12%. a. What is the new price of the 3 -year bonds? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. b. What is the new price of the 10 -year bonds? Note: Do not round intermediate calculations. Round your answer to 2 decimal ploces. c. Which bonds are more sensitive to a change in interest rates? Longterm bonds Short-term bonds