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75. Bond X is a noncallable corporate bond maturing in ten years. Bond Y is also a corporate bond maturing in ten years, but Bond

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75. Bond X is a noncallable corporate bond maturing in ten years. Bond Y is also a corporate bond maturing in ten years, but Bond Y is callable at any time beginning three years from now. Both bonds carry a credit rating of AA. Based on this information: A) The option adjusted spread of Bond Y will be greater than its zero-volatility spread. B) Bond Y will have a higher zero-volatility spread than Bond X. C) The zero-volatility spread of Bond X will be greater than its option-adjusted spread

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