I need help with this practice midterm question please. I don't understand questions a) and b)

Question 1 (6 points) 8 years ago, Jackson Corporation issued a debt with 8% coupon annual interest rate and 20 years to maturity. Today (i.e., 8 years after the Jackson debt was issued) Rogers Corporation is issuing a debt with 9% annual coupon interest rate and 12 years to maturity. Both corporate debts pay interests annually and both are rated BBB by the Standard and Poor's (a bond rating agency). Remember that the government requires new debts to be issued at par (i.e., face value). Please carefully read and interpret the question. Any misinterpreted information may affect your answers on multiple subquestions below, which should not be regarded as repeated deductions. You can use the approximating formula to find bond yield. For this question, no need to calculator the pricing error. (a) (l point) Has the market yield on BBB rated debt increased or decreased in the past? Why? (b) (l point) Should the yield on the government debt with 12 years to maturity today be higher or lower than the yield on the Rogers debt? Why? What is the meaning of the difference between the two yields? (c) (2 points) Mr. Smith holds a Jackson bond with face value of $1,000. How much can he sell the bond today? (d) (2 points) Mr. Smith asks $950 for selling his Jackson bond to you today. If you accept the price, what is your expected return per year by holding the bond to maturity? Should you accept the Jackson bond at this price or buy the Rogers bond? Why?