Please show working step by step for this question. It is already answered but the steps are not cleared and are not solved properly.

4. The Select Company has two bond issues outstanding. Both bonds pay $80 annual interest plus $1,000 at maturity. Bond L-Series has a remaining maturity of 15 years, and Bond S Series a remaining maturity of 1 year. a) What will be the value of each of these bonds when the going rate of interest is (1) 4% and (2) 14% ? Answer:| b) What is the percentage change in the value of each bond when the interest rate increases from 4% to 14%