please provide all calculations and steps Noah Kramer, a fixed$-$income portfolio manager based in the country of Sevista, is considering the purchase of a Sevista government

bond. Kramer decides to evaluate two strategies for implementing his investment in Sevista bonds. Table $16$A gives the details of the

two strategies, and Table $16$B contains the assumptions that apply to both strategies.

Table $16$A

Investment strategies $($amounts are market value invested$)$

Market value of bonds

Bond maturities

Bond coupon rates

Target modified duration

$$10$ million

$5$ and $25$ years or $15$ years

$0\mathrm{.}00\%($zero coupon$)$

$15$ years

Table $16$B

Investment strategy assumptions

Before choosing one of the two bond$-$investment strategies, Kramer wants to analyze how the market value of the bonds will change if

an instantaneous interest rate shift occurs immediately after his investment. The details of the interest rate shift are shown in

$$ Table $16$C$.$ Calculate, for the instantaneous interest rate shift shown in Table $16$C$,$ the percent change in the market value of the

bonds that will occur under each strategy.

Table $16C$

Instantaneous interest rate shift immediately after investment