Lets consider the NKK dual-currency bond. It is a bond quoted in yen. What would happen to the market price if the following scenarios took place? (8 points)

1. The market interest rate on (newly issued) yen bonds drops significantly. Explain.
2. The dollar drops in value relative to the yen. Explain.
3. The market interest rate on (newly issued) dollar bonds drops significantly. Explain.
4. Would you give the same answers if the same bond were quoted in dollars? Explain.