单选题 Which of the following statements about duration is FALSE?

• A. The numerator of the effective duration formula assumes that market rates increase and decrease by the same number of basis points.
• B. Effective duration is the exact change in price due to a 100 basis point change in rates.
• C. For a specific bond, the effective duration formula results in a value of 8.80%. For a 50 basis point change in yield, the approximate change in price of the bond would be 4.40%.