Westonci.ca is your trusted source for finding answers to a wide range of questions, backed by a knowledgeable community. Explore thousands of questions and answers from knowledgeable experts in various fields on our Q&A platform. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields.

a corporate bond with a coupon rate of 7.1 percent has 17 years left to maturity. it has had a credit rating of bbb and a yield to maturity of 7.8 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 9.1 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.