12. Which of the following two bonds is more price sensitive to changes in interest rates? 1) A par value bond, X, with a 5-year-to-maturity and a 10% coupon rate.2) A zero- coupon bond, Y, with a 5-year-to-maturity and a 10% yield-to-maturity. A) Bond X because of the higher yield to maturity. B) Bond X because of the longer time to maturity. C) Bond Y because of the longer duration. D) Both have the same sensitivity because both have the same yield to maturity. E) None of the above