Question: A $1,000 par value bond with Five years left to maturity pays an interest payment semiannually with an 8 percent coupon rate and is priced

A $1,000 par value bond with Five years left to maturity

A $1,000 par value bond with Five years left to maturity pays an interest payment semiannually with an 8 percent coupon rate and is priced to have a 7.4 percent yield to maturity. If interest rates surprisingly increase by 0.5 percent, by how much will the bond's price change? (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16))

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