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A semiannual coupon bond has a 2.25 percent yield to maturity and a price of $1,350. Interest rates are now projected to increase 50 basis

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A semiannual coupon bond has a 2.25 percent yield to maturity and a price of $1,350. Interest rates are now projected to increase 50 basis points. The bond's duration is 15 years. What is the predicted new bond price after the interest rate change? Select one: a. $1057.29 b. $1,249.88 C. $1,164.51 d. $975.40 e. $985.28

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