Question: A bond with face value = 10,000 currently is trading at the price of 101% par. Its modified duration is 5.8 in years and its

A bond with face value = 10,000 currently is trading at the price of 101% par. Its modified duration is 5.8 in years and its convexity is 60.7 in years. Suppose yield currently is 2.61%, and is expected to change to 3.37%. Calculate the approximate dollar change in price using both duration and convexity. Assume annual compounding. Round your answer to 2 decimal places.

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