A bond has a par value of $1,000, a coupon rate of 9.82 percent (paid annually), and that matures in 12 years. Assume the market interest rate on this bond is 8.02 percent and it increases 31 basic points. Calculate the percentage change in the value of the bond. (You should calculate duration of the bond first).

Round the answer to two or more decimal places in percentage form. Please write % sing in a units box..

You should use an online Duration calculator.