A bond with face value of 1000 is selling in the market for 1000, it has a modified duration of 6. Which one of the following statements regarding the bond is true:

A) if the market yield increases by 1% thr bonds will decrease by $60

B) if the market yield increases by 1% thr bonds will increase by $50

C) if the market yield increases by 1% thr bonds will decrease by $50

D) if the market yield increases by 1% the bonds will increase by $60

E) none of the above