A 5.50 percent coupon bond with 19 years left to maturity is priced to offer a 7.80 percent yield to maturity. You believe that in one year, the yield to maturity will be 10.00 percent.
Required:
What is the change in price the bond will experience in dollars? (Negative amount should be indicated by a minus sign. Do not round intermediate calculations and round your final answer to 2 decimal places. Omit the "tiny_mce_markerquot; sign in your response.)