You have bought 100 bonds with a face value of $1,000, an annual coupon rate of 6 percent, a yield to maturity of 8 percent, and 10 years to maturity. Now you are concerned that rates will rise and the bond value will, therefore, drop. You want to take a short (sell) position on another bond with face value of $1,000, an annual coupon rate of 5 percent and a yield to maturity of 7 percent, and 8 years to maturity. Using a duration hedge how many of these bonds should you short?

options are

12.1

81.3

94.56

110.82