A legendary bond trader known as "El Kid" buys a Corporate bond with a 5.7-year duration. He bought the bond with a +2.25% bond spread to Treasuries. A few minutes later, the Treasury yield increased by 0.10% while the bond spread widened by 0.50% percent. Given this sudden change, what is the approximate impact on the price of the bond (assurning a $100 par value)? Price should decline by 3.42% Price should decline by 2.85% Price should increase by 2.85% Price should decline by 0.57%