possible answers are 0.5%, 1%, 1.5%,2%,2.5%

25. A 15-year bond with annual coupons sold at par of 1,000 has a Macaulay duration of 9.0101. If the annual effective yield rate of the bond decreases by x, the price of the bond approximated using the first-order Macaulay approximation is 1,233.72. Calculate x