18. Based on an effective duration of 8.35 , the approximate change in the price of a bond that is currently priced at $1,023,45 in response to a 50 basis point increase in yields is closest to: A. 4.175% B. 8.3% C. 8.3% 18. Based on an effective duration of 8.35 , the approximate change in the price of a bond that is currently priced at $1,023,45 in response to a 50 basis point increase in yields is closest to: A. 4.175% B. 8.3% C. 8.3%