You own a bond that has a duration of $6$ years. Interest rates are currently $7\%,$ but you believe the Fed is about to increase interest rates by $21$ basis points. Your predicted price change on this bond is $\_\_\_\_\_\_\_\_\_\_.($Select the closest answer.$)$

Multiple Choice

$+1\mathrm{.}18\%$

$1\mathrm{.}18\%$

$5\mathrm{.}61\%$

$+5\mathrm{.}61\%$