Question 5 (of 15) 6.00 points Problem 11-9 Aten-year bond has a yield of 11% and a duration of 7.205 years. If the bond's yield increases by 75 basis points, what is the percentage change in the bond's price as predicted by the duration formula? (Input the value as a positive value. Do not round intermediate calculations. Round your answer to 2 decimal places.) The bond's price decreased by References eBook & Resources Problem 11-9 Learning objective: 11-02 Compute the duration of bonds. Worksheet and use duration to measure interest rate sensitivity