A bond has 3 years to maturity, a 8% annual coupon and a par value of $100. The bond pays a continuously compounded interest of 7%. Suppose the interest rate goes down to 6%. What would be the percentage change in the price of the bond implied by the duration plus convexity approximation? If you want to hedge this bond using a 5- and 6-year zero-coupon bond, what will your total hedge position be? (You need to consider both duration and convexity hedging!)