Refer to Table 10-1, assume interest rates in the market (yield to maturity) are 25 percent for 20 years on a bond paying 10 percent.

a) What is the price of the bond?

b) Assume 10 years have passed and interest rates in the market have gone down to 12 percent. Now, using Table 10-2 for 10 years, what is the price of the bond?

c) What would your percentage return be if you bought the bonds when interest rates in the market were 25 percent for 20 years and sold them 10 years later when interest rates were 12 percent?

Note: Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.