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A bond that pays interest semiannually has a 7 . 5 percent promised yield and a price of $ 1 , 1 4 5 .

A bond that pays interest semiannually has a 7.5 percent promised yield and a price of $1,145. Annual interest rates are now projected to increase 50 basis points (100 basis points =1%). The bond's duration is 6 years. What is the predicted new bond price after the interest rate change? (Watch your rounding.)
$1,111.89
None of the options presented
$1,169.65
$1,070.36
$1.220.85
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