9.

Consider a 30-year bond paying 8.5% coupons per annum, payable semi-annually and which has a face value of $200. Assume that the yield curve is currently flat at 9.5% pa nominal. Based on exact bond pricing, if interest rates decrease by 100 basis points at all maturities, what is the percentage increase in the price of this bond?

Group of answer choices

9.876%

10.907%

12.388%

10.958%

11.810%