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12. An 8%, 15-year bond has a yield to maturity of 10% and duration of 8.05 years. If the market yield changes by 25 basis

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12. An 8%, 15-year bond has a yield to maturity of 10% and duration of 8.05 years. If the market yield changes by 25 basis points, how much change will there be in the bond's price? (8 points) A. 1.85% B. 2.01% C. 3.27% D. 6.44% E. None of these is correct

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