Suppose a bond has 10 years left to maturity, 13% coupon rate, pays interest annually, and has a 7% yield to maturity. If this bond has Macaulay duration of 6.75 years and the yield to maturity increases by 0.7%, an estimate of the convexity in the bond would be closest to: $2.59 $1.85 $3.78 $1.61 None of above