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You have a four-year bond with a coupon rate CR = 6% and a face value of $1,000. The bond makes annual coupon payments and

You have a four-year bond with a coupon rate CR = 6% and a face value of $1,000. The bond makes annual coupon payments and its yield to maturity is 2% p.a. If the bond's yield to maturity increases by 1% (i.e., by 100 basis points), find the resulting percentage change in the bond's price. For example, if the bond's price changes from $1,000 to $900, then the percentage change in price would be 100x(900 - 1,000)/1,000 = -10.00%. Give the answer as a percent with two decimals, e.g., -7.12%.

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