General Electric has an outstanding bond that paid quarterly interest with an annual coupon of 4.25%, with a yield to maturity (required rate of return) of 3.85% and a maturity date of September 1st, 2032. Build a spreadsheet that calculates the correct price for this bond using a combination of the present value of a dollar and the present value of an annuity formulas, ensuring that the bond-pricing model is flexible enough to automatically calculate the bond price for any changes to yield, coupon, or maturity.

1) What is the price (as a percentage of principal) of the bond with a settlement date of September 1st, 2022? If the yield (required rate of return) of this bond goes up 75 basis points what would the new price be?