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A $1,000 par value bond has a Macaulay's duration of 12.63 years. The bond's current yield to maturity is 8.56%. If the bond's yield to

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A $1,000 par value bond has a Macaulay's duration of 12.63 years. The bond's current yield to maturity is 8.56%. If the bond's yield to maturity decreases by 0.86%, what is the approximate change in the bond's price based on duration? Assume annual compounding. Submit your final answer as a percentage rounded to two decimal places (Ex. 0.00%)

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