You have two corporate bonds.

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4. You have two corporate bonds.The first one is named Batman. Batman has a face value of $1,000, pays 5% annual coupon, 12 years to maturity and provides an yield to maturity of 8%. You bought this bond yesterday.The second one is named Spiderman. Spiderman has a face value of $1,000, pays 5% annual coupon, 2 years to maturity and provides an yield to maturity of 8%. You bought this bond yesterday.Today, because of some “Breaking News”, The Yield on the bonds suddenly jumps by 3%. You become anxious about the developments and take action to immediately sell both Batman and Spiderman. What would be the sale price? Comment on the results.

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