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A 10%, 12-year bond has a yield to maturity of 8% and a duration of 7.8 years and convexity equal to 200. If the market

A 10%, 12-year bond has a yield to maturity of 8% and a duration of 7.8 years and convexity equal to 200. If the market yield decreases by 0.4%, by what percentage will the bond price change? -3.28% O b. -3.05% O c. 3.05% O d. 3.25% O e. None of the given choices is correct

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