ABC company had $300,000,000 of debt outstanding at Face Value. The bonds have annual 2% coupon payments and a remaining life of 8 years to maturity. The bonds just got re-rated and the market determined yield to maturity changed from 5% to 3%. By what amount did the market value of the bond change?

	a.	$51,168,915 recognized decrease in bond value
	b.	$51,168,915 recognized increase in bond value
	c.	$37,109,838 recognized decrease in bond value
	d.	$37,109,838 recognized increase in bond value