Consider a $8\%$ coupon, $5$ year bond with a YTM of $10\%$ and semiannual coupon payments. The bond has a regular duration $($e$.$g$.,$ NOT modified duration$)$ of $4\mathrm{.}180.$

Question $21$

$2$ pts

If the YTM on the bond decreases to a new level of $8\%,$ what is the duration$-$approximated percentage price change?

$8\mathrm{.}36\%$

$7\mathrm{.}74\%$

$7\mathrm{.}96\%$

$8\mathrm{.}04\%$

$7\mathrm{.}60\%$