What will be the percentage change in price of a callable bond that has 10 years to maturity, $100 face

value, pays 1% coupon (semi-annually), is currently selling for $95.95, and is callable anytime at $102

if the yields suddenly decrease by 1%?

a) 9.96%

b) -9.96%

c) 6.31%

d) 4.22%