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Walkers Trucks, Inc. issued semiannual bonds at par value with a coupon of 9% and a par value of $1,000. The bonds mature in 20
Walkers Trucks, Inc. issued semiannual bonds at par value with a coupon of 9% and a par value of $1,000. The bonds mature in 20 years. If the yield on similar bonds changes to 10%, how much will the price of the bonds change?
A: ($85.80)
B: $85.80
C: ($468.25)
D: $468.25
E: None of these answers are correct.
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