A bond with a modified duration of 9 years is priced at $850.46 to yield an annual effective interest rate of 7.4%. If the yield were increased to 8.0%, the first-order Macaulay approximation of the new price would be $X, while the first-order modified approximation of the new price would be $Y . Find the difference X Y .

(A) 1.34

(B) 4.09

(C) 4.33

(D) 6.18

(E) 6.77