An Exxon Corporation zero coupon bond with 3.5 years left to maturity yields 7.60%. An oil spill in the Gulf of Mexico increases the risk of holding these bonds and its yield changes by 10 basis points. By what percentage does the bond's price decrease? Round to 4 decimal places

Round answers according to instructions in each problem.

Do not round intermediate calculations.

All cash flows occur at the end of the period.

Do not include symbols such as $ and % in your answers.

Enter answers as positive numbers.

A bond's par value is S1,000 unless specified otherwise.

A bond's coupons are paid semi-annually unless specified otherwise.

All stated interest rates are annual unless specified otherwise.

Enter all interest rate answers in decimal format (not % format). Example: .05 not 5