Refer to Table 10-1, which is based on bonds paying 10 percent interest for 20 years. Assume interest rates in the market (yield to maturity) increase from 8 to 12 percent.

a. What is the bond price at 8 percent?

b. What is the bond price at 12 percent?

c. What would be your percentage return on the investment if you bought when rates were 8 percent and sold when rates were 12 percent? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)