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The current price of a noncallable bond with annual coupons is $ 1120.58, and the current annual yield is 4.25%. The modified duration D(0.0425, 2)

The current price of a noncallable bond with annual coupons is $ 1120.58, and the current annual yield is 4.25%. The modified duration D(0.0425, 2) is 3.58. Estimate the price of the bond if the yield increases to 4.4%. About what would the price be if the discount rate decreases to an annual effective rate of 3.7%?

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