Q-23. Key rate '01 with respect to the 30-year shift is calculated as follows:

-1/10,000 (25.01254 – 25.11584) / (0.01%) = 0.103 or 25.01254 - 25.11584 = 0.103 This implies that the C-strip decreases in price by 0.103 per 100 face amount for a positive one basis point 30-year shift.