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A $1,000 face value has a 4% annual coupon rate. The next coupon is due in one year and the bond matures in 30 years.

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A $1,000 face value has a 4% annual coupon rate. The next coupon is due in one year and the bond matures in 30 years. The current YTM on the bond is 4.0%. What is the dollar value of the price change if the bond's YTM increases to 6.5%? Round to the nearest cent. (Hint: 1) If the price drops, the change is a negative number. 2) Do not compute duration. You can calculate the precise impact of a yield change on the bond's price by comparing the prices under the two scenarios.) Numeric Answer: You are incorrect 326.47

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