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 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 would the bonds price change? (Do not round intermediate calculations. Round your answer to 2 decimal places.

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