There is a Government of Canada bond outstanding. It has a face value of $350,000. It has 30 years to maturity. The coupon rate is 7.5% and coupons are paid annually. Currently the yield to maturity on the bond is 7.7%. Suppose that tomorrow the yield to maturity decreases by 0.3%. The term structure (yield curve) is flat. What will be amount of the increase in the value of the bond? Your answer should be in dollars and it should be accurate to two decimal places.

(The correct answer is 12283.05 - just don't know how it was found)