Answer is D. I need a full explanation of why.

30. A bond that pays interest semi annually has a 6% promised yield and a pric of $1,025 Annual interest rates are now projected to increase 0.50%. The bond's Ma duration Is 5 years. What is the predicted new bond price after the interest rate change? A) $1,049.88 B) $776.21 C) $1,000.83 D) $1,000.12 E) $975.12