You are given a bond with a yield to maturity of 16%, Macaulay duration of 12 and a convexity of 52. Given this information, give a more accurate estimate of the percentage price change if yields...

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Extracted text: You are given a bond with a yield to maturity of 16%, Macaulay duration of 12 and a convexity of 52. Given this information, give a more accurate estimate of the percentage price change if yields increase by 2%. (Choose the closest answer) O A. The price is estimated to decrease by 22.96% O B. The price is estimated to decrease by 20.69% O C. The price is estimated to decrease by 19.65% O D. The price is estimated to decrease by 24%