Refer toTable 10-1, assume interest rates in the market (yield to maturity) are 4 percent for 20 years on a bond paying 10 percent.

a.What is the price of the bond?

b.Assume 5 years have passed and interest rates in the market have gone up to 12 percent. Now, usingTable 10-2for 15 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 4 percent for 20 years and sold them 5 years later when interest rates were 12 percent?(Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)