1. Which of the following bonds has the greatest interest rate price risk?

a. A 10-year, $1,000 face value, zero coupon bond.

b. A 10-year, $1,000 face value, 10% coupon bond with annual interest payments.

c. All 10-year bonds have the same price risk since they have the same maturity.

d. A 10-year, $1,000 face value, 10% coupon bond with semiannual interest payments.