For the following bond,Par value: $1,000Coupon rate: 8% paid annuallyTime to maturity: 3 yearsIntere

For the following bond,Par value: $1,000Coupon rate: 8% paid annuallyTime to maturity: 3 yearsInterest rate: 3%What is the convexity? Also, if the interest rate increases from 3% to 4%, what is the price change due to the convexity?Select one:a. Convexity: 11.125; price change: $.6402b. Convexity: 10.2961; price change: $.5876c. Convexity:11.925; price change: $.8887d. Convexity: 9.7806; price change: $.7087