As a financial analyst at Wells Fargo, you are analyzing how the change in yield impacts the bond price. A bond has a duration of 11 years, a yield of 10%, a convexity of 140, and a market price of $1,000. Suppose the market yield increases by 60 basis points.

What is the percentage change in bond's price by the duration only formula? (sample answer: 2.25% or -2.25%)

What is the bond price after the yield decline predicted by the duration only formula? (sample answer: $1050.65)

What is the percentage change in the bond's price predicted by the duration with convexity formula? (sample answer: 2.25% or -2.25%)

What is the bond price after the yield decline predicted by the duration with convexity formula? (sample answer: $1050.65)