mework $-$ Chapter $7$ i

A corporate bond with a coupon rate of $8\mathrm{.}1$ percent has $13$ years left to maturity. It has had a credit rating of BBB and a yield to maturity of $8\mathrm{.}8$ percent. The firm has recently gotten into some trouble and the rating agency is downgrading the bonds to $BB.$ The new appropriate discount rate will be $10\mathrm{.}1$ percent. $($Assume interest payments are semiannual.$)$

What will be the change in the bond's price in dollars?

What will be the change in the percentage?

Note: Negative answer should be indicated by a minus sign. Do not round intermediate calculations. Round your final answer to $2$ decimal places.

Change in bond price

Change in bond percent