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Sarah just used $96.83 purchased a Treasury bond. Assume that the yield rate for this bond is j 2 =3.68% p.a. and the duration of

Sarah just used $96.83 purchased a Treasury bond. Assume that the yield rate for this bond is j2 =3.68% p.a. and the duration of this bond is 3.62 years. Without actually calculating the new price for this bond, use the bond price and the duration value to estimate (use the price sensitivity formula) the change in price of this bond that would result from an increase in yield rate (j2) of 18 basis points. Round your answer to four decimal places.

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