I need help understanding number 5 only, 3 and 4 may be needed to get 5, I am not sure.

Use the following numbers for 3) to 5)

A bond has a par value of $1000, a time to maturity of 3 years, and an annual coupon rate of 8%. The coupon is paid once a year. The current yield to maturity is 10%.

3) What is the market price of this bond?

a) $750

b) $850

c) $950 CORRECT

d) $1050

4) What is the duration of this bond?

a) 1.78

b) 2.78 CORRECT

c) 3.78

d) 4.78

5) If the market price drops by 2% today, what must be the new yield to maturity?

a) 8.8%

b) 9.8%

c) 10.8% CORRECT

d) 11.8%

Please show steps to get 10.8%.