A bond has a par value of $1,000, a coupon rate of 11.36 percent (paid annually), and that matures in 10 years. Assume the market interest rate on this bond is 11.17 percent and it decreases 44 basic points. Calculate the percentage change in the value of the bond. (You should calculate duration of the bond first).

Please note that the percentage change in the value of the bond should be entered as a negative number is the value decreases. It should be entered as a positive number if the value increases.