I am unsure of how to estimate the error with duration rule?

A 1000 par value bond with 3 years to maturity and a 11 percent coupon has a yield to maturity of 10 percent. Interest is paid semi-annually. Assume no arbitrage. Use the duration rule to estimate the percentage price change for this bond, if the yield decreases by 125 basis points. Explain why this estimate is likely to be an inaccurate measure of the actual change in the bond's value. What is the amount of the estimation error using only the duration rule for estimation? Discuss which bond trading strategies would you implement to take advantage of this information. A 1000 par value bond with 3 years to maturity and a 11 percent coupon has a yield to maturity of 10 percent. Interest is paid semi-annually. Assume no arbitrage. Use the duration rule to estimate the percentage price change for this bond, if the yield decreases by 125 basis points. Explain why this estimate is likely to be an inaccurate measure of the actual change in the bond's value. What is the amount of the estimation error using only the duration rule for estimation? Discuss which bond trading strategies would you implement to take advantage of this information