Par value bond GE has a modified duration of 11. Which one of the following statements regarding the bond is true? If the market yleld increases by 1% the bond's price will decrease by $55. If the market yleld increases by 1% the bond's price will increase by $55. If the market yleld increases by 1% the bond's price will decrease by $110. If the market yield increases by 1% the bond's price will increase by $110