Bank X, a community bank that operates in Netherlands university only, sold bonds to raise capital. Those bonds have a coupon rate of 5% and coupons are paid annually. The principal amount of those bonds is $500 and they mature in 3 years. The yield to maturity is 11%. The present value of those bonds is $426.68. Moreover, Bank X gave loans that have average coupon rates of 8% and coupons are paid annually. The principal amount of loans is $1000 and they mature in 5 years. The yield to maturity is 11%. The present value is $889.12. Furthermore, recently, the Netherlands Central Bank raised interest rates by 3% following the recent credit tightening around the world. Assume that the change affects Bank X borrowings by 1% and lending by 2% since the Netherlands government yield curve is upward sloping. Find % change in Bank X Equity after the increase in interest rates.