A 30-year maturity bond making annual coupon payments with a coupon rate of 15.0% has duration of 9.41 years and convexity of 129.3. The bond currently sells at a yield to maturity of 11%. a. Find the price of the bond if its yield to maturity falls to 10%. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Anewspaper story on the effect of higher milk prices on the market for ice cream contained the following: "as a result [of the increase in milk prices], retail prices for ice cream are up 4 percent from last year. . and ice cream consumption is down 3 percent." source: john curran, "ice cream, they scream: milk fat costs drive up ice cream prices," associated press, july 23, 2001. based on the information given, what is the price elasticity of demand for ice cream?