Consider a 7-year maturity bond with a 7% coupon rate (annual rate). The bond sells at an initial yield to maturity of 6% per annum. Further assume that the Face value for that bond is 61,000 and that coupons are paid semi-annually. You are told that the Macaulay Duration of the bond, at its initial yield, is 12 (half years). Suppose that the bond's yield increases by 300 basis points. Using Duration, what is the approximate \% price change due to that change in yield? (Hint: approximate each intermediate results to the fourth decimal). Select one: a. The value of the approximate % price change is in between 17.99% and 18.00%. b. The value of the approximate % price change is in between 35.99% and 36.00%. c. The value of the approximate % price change is in between 33.96% and 33.97%, d. The value of the approximate % price change is in between 17.47% and 17.48% e. None of the other answers given