Laurel Inc. and Hardy Corp. both have $6$ percent coupon bonds outstanding, with semiannual interest payments, and both are priced

at par value. The Laurel Inc. bond has $5$ years to maturity, whereas the Hardy Corp. bond has $18$ years to maturity. $($Do not round

intermediate calculations. Round the final answers to $2$ decimal places.$)$

If interest rates suddenly rise by $2$ percent, what is the percentage change in the price of these bonds? $($Negative answers should be

indicated by a minus sign.$)$

Percentage change in price of Laurel

Percentage change in price of Hardy

$\%$

$\%$

If interest rates were to suddenly fall by $2$ percent instead, what would the percentage change in the price of these bonds be then?

Percentage change in price of Laurel

Percentage change in price of Hardy