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A 6% coupon bond paying interest semi-annually has a modified duration of 11 years, sells for...

A 6% coupon bond paying interest semi-annually has a modified duration of 11 years, sells for $850, and is priced at a yield to maturity (YTM) of 6.90%. If the YTM increases to 7.65%, the price, using the concept of duration, is predicted to:

Group of answer choices

decrease by $67.54

decrease by $72.54

decrease by $70.13

decrease by $67.79

decrease by $65.60

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