10. Rank the Macaulay duration from highest to lowest of the following instruments: 1. A 10-year zero coupon bond II. A 10-year noncallable annual coupon paying bond redeemable at par III. The floating side of a 30-year swap where settlement periods are annual, payments at end of year based on the 1-year spot rate at the beginning of the year A) I > II > III C) IL > III > 1 E) III > II > 1 B) I > III > II D) III > I >