Calvin and Andre both have bonds they bought at par value which pay a 7.75% coupon rate. Calvin's bond has 10 years to maturity and Andre's bond has 20 years to maturity. If interest rates suddenly rise to 9.75%, what is the approximate change in value of Andre's bond?

• -17.46%

• -12.60%

• 12.60%

• 20.17%

• -21.15%

• 17.46%