Consider a $$1,0003-$year annual $7\%$ coupon bond

trading at a yield to maturity of $10\%.$ The duration

of the bond is $2\mathrm{.}8.$ Using the duration

approximation, find the estimated bond price

change for a $2\%$ increase in interest rates.

Select one:

A$.-5\mathrm{.}89\%$

B$.$ None of the above

C$.-5\mathrm{.}09\%$

D$.-6\mathrm{.}13\%$

E$.-6\mathrm{.}38\%$