A $1,000 six-year bond has an 8 percent coupon, is selling at par, and contracts to make annual payments of interest. The duration of this bond is 4.99 years. What will be the new price using the duration model if interest rates increase to 8.5 percent? Please show your calculation. A) $23.10 B) $976.90 C) $977.23 D) $1,023.10 E) -$23.10