For a bond of par value $10,000 with an annual coupon of 8% and a YTM (yield of maturity) of 7.2% and 10 years to maturity. The bond present price is $10,556, the duration is 7,326 years and the convexity is 62,35. Suppose the market rate goes down to 7%.

a) What is new price of the bond?

b) Estimate the new price using duration?

c) Estimate the new price using convexity?

d) If the market price is now $10,342, find its YTM.