Explanation:

• Option A (Effective duration) is incorrect because it measures the sensitivity of a bond's price to changes in a benchmark yield curve, not the bond's own yield to maturity.

• Option B (Modified duration) is correct. Modified duration is a yield duration statistic that estimates the percentage price change of a bond for a given change in its yield to maturity. It directly addresses the question's requirement.

• Option C (Macaulay duration) is incorrect because it represents a weighted average of the time to receipt of the bond's cash flows, weighted by the present value of those cash flows. It does not directly estimate the percentage price change for a change in yield to maturity.