We have a bond with a coupon rate of 12% paid annually, 4 years to maturity, a par value of $1,000, and the yield to maturity of 15%. You believe the Fed is about to decrease interest rates by 50 basis points (0.5%). Figure out the percentage change in the bond price using the duration from Question 3. (If you cannot figure out the duration above, please use a duration of 4.)