If a bond is trading at 96.829 with a yield to maturity of 4.53 percent and duration equal to 5.38, its Price Value of a Basis Point (PVBP) is closest to:

Explanation: The duration multiplied by one basis point (0.0001) multiplied by 100% is the percentage change in value of the bond for a one basis point change in interest rates. PVBP is the price multiplied by the percentage change in value for a one basis point change in interest rates, or 5.38 x 0.0001 x 100% = 0.0538% multiplied by 96.829 = 0.0521.