An eight-year bond has a yield of 10% and a duration of 7.208 years. If the bond's yield increases by 50 basis points, what is the percentage change in the bond's price as predicted by the duration formula? (Input the value as apositive value. Do not round intermediate calculations.Round your answer to 2 decimal places.)

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An eightyear bond has a yield of 10% and a duration of 7.208 years. If the bonds yield increases by 50 basis points, what is the percentage change in the bonds price as predicted by the duration formula? [Input the value as a positive value. no not round intermediate calculations. Round your answer to 2 decimal places.) The bonds price (Click to select) I \