A $1000 bond with a coupon rate of 6.2% paid semiannually has eight years to maturity and a yield to maturity of 8.3%. If interest rates rise and the yield to maturity increases to 8.6% what will happen to the price of the bond?

A) The price of the bond will rise by $15.78,

B) The price of the bond will fall by $18.93,

C) The price of the bond will fall by $15.78,

D) The price of the bond will not change