A bond has a face value of $25,000, 19 years to maturity, and a 6.0% coupon rate payable semi-annually. If the market yield for the bond increases from 7.0% to 8.0%, calculate the percentage change in bond price.

Select one:

a. (10.0) %

b. (10.3) %

c. (11.1) %

d. (10.6) %

e. (10.9) %