Question: USE EXCEL FORMULAS. ABC Corp. issued a 30-year maturity bond in 1990 with 6.5 percent coupon paid semi-annually. The bond has a face value of

USE EXCEL FORMULAS.

ABC Corp. issued a 30-year maturity bond in 1990 with 6.5 percent coupon paid semi-annually. The bond has a face value of $1,000. You bought the bond in 1996 when the yield to maturity on this bond was 7.8 percent. You sold the bond in 2008 when the yield to maturity on the same bond increased to 10.6 percent. What is the percentage change in the price of this bond from 1996 to 2008?

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