A bond is scheduled to mature in five years. Its coupon rate is 9% with interest paid annually. This $1,000 par value bond carries a yield to maturity of 10% calculate the percentage change in this bond's price if interest rates on comparable risk securities decline from 10% to 7%.

a. +12.76%

b. +12.46%

c. +8.58%

d. +11.80%

e. -11.80%