You Own a 5

You own a 5.5 percent,semiannual coupon bond that matures in 8 years.The par value is $1,000 and the current yield to maturity is 6.4 percent.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 percent
B) -3.10 percent
C) -3.25 percent
D) -3.30 percent
E) -3.45 percent