You own a bond which has a Macauley duration of 6 years and semi-annual coupons. Market interest rates on bonds of this type are currently 5% but you believe the Reserve Bank is about to decrease interest rates by 10 basis points. Your predicted price change on this bond is ________.

Group of answer choices

+0.57%

+0.59%

-0.58%

+0.60%

-0.57%