1. Bond A, B, C, D, and E have the same face value of $10,000 and are equally risky. If the market rate for these bonds is 9%, which one of the following bonds should have the highest market value?

1. Bond A that has a coupon rate of 5% and expires in 2025
2. Bond B that has a coupon rate of 10% and expires in 2017
3. Bond C that has a coupon rate of 9% and expires in 2050
4. Bond D that has a coupon rate of 5% and expires in 2020
5. Bond E that has a coupon rate of 5% and expires in 2018