On January 1, 20Y1 Oread Electronics issued $3 million in 5-year bonds for $2,862,613. The bonds pay 2% interest annually on December 31. The market rate of interest for bonds of comparable risk was 3% at the date of issuance. By the end of the year, the market rate of interest had increased to 4%. If Oread elected to use the fair value option when accounting for these bonds, how did the bond's fair market value change during 20Y1? Fair market value change due to time Increase or Decrease Fair market value change due to rate Increase or Decrease