A 14-year, 5.1 percent coupon bond pays interest annually. The bond has a face value of $1,000. What is the percentage change in the price of this bond if the market yield to maturity rises to 6.1 percent from the current rate of 5.6 percent?

Select one:

a. 4.70 percent decrease.

b. 4.93 percent decrease.

c. 5.21 percent increase.

d. 4.70 percent increase.

e. 4.93 percent increase.