It is July 25, 2017. You have a $10,000 semi-annual bond with a coupon rate of 6.250% which matures October 16, 2044. The bond is priced to yield 3.750%, the duration is 15.41 years, and the convexity is 324.76 years squared. Using a duration estimate only, we predict that if market yields decrease by 100 basis points then the price of this bond will increase by: % The convexity correction is calculated as % So the total increase in price is predicted to be %