P4-17 15 points No credit will be given if work is not shown.Highlight or bold your answers. You have gathered the following data on three bonds: a.If the market's required return on all three bonds is 6%, what are the market prices of the bonds (you can assume annual interest payments).(Show your work.Label $.Two decimal places required.) b.The market's required return suddenly rises to 7%.What are the new bonds prices, and what is the percentage change in price for each bond?(Show your work.Label $ and %.Two decimal places required for $ and one decimal place required for %.) c.If the market's required return falls from the initial 6% to 5%, what are the new prices, and what is the percentage change in each price relative to the answer obtained in part (a)?(Show your work.Label $ and %.Two decimal places required for $ and one decimal place required for %.)