You Own a 5

You own a 5.5%, semiannual coupon bond that matures in 8 years. The par value is $1,000 and the current yield to maturity is 6.4%. What will the percentage change in the price of your bond be if the yield to maturity suddenly increases by 50 basis points?

A) −3.05%
B) −3.10%
C) −3.25%
D) −3.30%
E) −3.45%