Question: please show all work and list all formulas. A bond maturing in 30 years with coupon rate of 9% was sold at $1,248.18 as the

please show all work and list all formulas.

A bond maturing in 30 years with coupon rate of 9% was sold at $1,248.18 as the required rate of retum was 7%. Like in the previous example, interest rates changed immediately after this to 5%. Estimate the percentage change in the bond price. OA 2.0 B. 29.4% C. 36.67% D. none of the above

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