Cohen points out that similar downgrades in Greece (2010) and Portugal (2012) led to jumps in their local interest rates of 2%. Assume that you own a single long-dated SA government bond benchmark bond (the R186). You know that: its face value is R1m; it will mature in 9 years from today; it pays a semi-annual coupon of 10.5%, and it is trading on a yield to maturity of 8.68% today. How much will you lose (in percentage terms) between now and the end of the month if the downgrade happens and local interest rates respond in the same way as those of Greece and Portugal?