Bond J is a 8 percent coupon bond. Bond K is a 12 percent coupon bond. Both bonds have 12 years to maturity and have a YTM of 9.5 percent. a. If interest rates suddenly rise by 1 percent, what is the percentage price change of these bonds? (Negative values should be indicated by a minus sign. Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

Bond J %

Bond K %

b. If interest rates suddenly fall by 1 percent, what is the percentage price change of these bonds? (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places. Omit the "%" sign in your response.)

Bond J %

Bond K %