An 6% annual coupon bond with (face value = 3,000) currently trades at par. Its Macaulay duration is 5.16 in years and its convexity is 56.34 in years.

Suppose yield goes from 5.88% to 2.42% one day. Calculate the approximate dollar change in price using both duration and convexity.

Assume annual compounding. Round your answer to 2 decimal places. If your answer is a price decline, then include the negative sign in your answer.