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An 8%, 15-year bond has a yield to maturity of 10% and duration of 8.05 years. If the market yield changes by 25 basis points,

An 8%, 15-year bond has a yield to maturity of 10% and duration of 8.05 years. If the market yield changes by 25 basis points, how much change will there be in the bond's price? ( 8 points

)A. 1.85%

B. 2.01%

C. 3.27%

D. 6.44%

E. None of these is correct.

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