NorthSouth Company has bonds with 20 years to maturity, a face value of $1,000, coupon rate of 9 percent and YTM of 7 percent. The Company makes semiannual payments. What is the percentage change in the price of this bond if the market yield suddenly decreases to 5 percent?

a. 19.03 percent

b. 17.39 percent

c. 23.77 percent

d. 10.22 percent

e. 13.92 percent