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Question 1 (Bond Price and Interest Rate Risks: 15 points) Consider a bond selling at par of $1,000 with a coupon rate of 5% semi-annual coupon payment, and 10 years to maturity. (a) What is the price of this bond if the required yield is 15%? (b) What is the price of this bond if the required yield increases from 15% to 16%, and by what percentage did the price of this bond change? (c) What is the price of this bond if the required yield is 5%? (d) What is the price of this bond if the required yield increases from 5% to 6%, and by what percentage did the price of this bond change? (e) From your answers of parts (b) & (d), what can you say about the relative price volatility of a bond in a high-interest-rate environment compared to a low-interest-rate environment