10. A bond's yield to maturity is: A. The rate that equates the price of the bond with the discounted cashflows, B. The expected rate to be earned if the bond is held to maturity. C. The rate that is used to determine the market price of the bond. D. Equal to the current yield for bonds priced at par. E. All of the above. 11. Which of the following bonds have the greatest price change for a given change in interest rates? A. A 2-year zero coupon bond B. A 10-year bond paying 5% annually C. A 10-year bond paying 5% semiannually, D. A 10-year pero coupon bond. E. None of the above. 12 Which of the following is correct for a bond currently selling at a pro- mium to par? A. Its current yield is higher that its coupon rate, B. Its current yield is lower than its coupon rate. C. Its yield to maturity is higher than its coupon rate. D. Its default risk is extremely low. E. None of the above. 13. A bond is currently trading at par, has an annual coupon of $100, and matures at a face value of $1000. Therefore, the Is 10% A. Coupon rate. D. Current ylell. C. Yield to maturity. D. All of the above. E. Only (A) and (C) of the above