An 8%,30-Year Bond Has a Yield-To-Maturity of 10% and a Modified

An 8%,30-year bond has a yield-to-maturity of 10% and a modified duration of 8.0 years.If the market yield drops by 15 basis points,there will be a __________ in the bond's price.

A) 1.15% decrease
B) 1.20% increase
C) 1.53% increase
D) 2.43% decrease