What happens to the price of a 3-year bond (with par value of $1,000) with an 8% coupon when market interest rates immediately change from 8% to 10%? (assume annual coupons)

a. A price increase of $49.74 b. A price decrease of $49.74 c. A price increase of $53.46 d. A price decrease of $53.46 e. None of these