(For this part, you MUST present sufficient solution steps, and MUST apply specific Excel functions =PV...). EFV...). EPMTC...), =NPERC...), =RATE.... =PRICE(...) or =YIELD(...) whenever applicable. Otherwise, you will get very heavy deductions in credit points, no matter whether your final answer amounts are correct or not. Case 3: We find the data for a municipal bond issued by the Illinois state government. The bond's "last trade date (i.e., settlement date) is February 05, 2021. The bond's "maturity date" is June 14, 2065. The bond's "coupon rate" is fixed as 5.000%" per year. The bond's coupon "payment frequency" is "semi-annual. The bond's "last trade yield" (i.e., yield-to-maturity) is quoted as 4.280%" per year. (a) Based on the given settlement date, maturity date, coupon rate, coupon payment frequency and yield to maturity, what shall be the corresponding bond PRICE (relative to redemption par of 100)? 6 (b) Assumes that the Fed chooses to tighten its monetary policy now, causing interest rates to rise across financial markets. This IL municipal bond's yield-to-maturity also rises from 4.280% to "5.280%" per year. Will the bond PRICE rise or drop? By how much? (c) Assumes that the Fed chooses to loosen its monetary policy now, causing interest rates to drop across financial markets. This IL municipal bond's yield-to-maturity also drops from 4.280% to "3.280%" per year. Will the bond PRICE rise or drop? By how much? (d) Based on your answers to (b) and (c), is there a positive, negative or zero association between bond YIELD and its PRICE? (Hint: Positive association means "moving in the same direction", negative association means "moving in the opposite directions", while zero association means "one moves but the other does not get affected".)