Bonds J and K are both zero coupon bonds, which means that they make only one payment. Bond J will pay $X in 10 years and Bond K will pay $Y in 15 years. Assume that at current interest rates both have the same present value. An increase in interest rates will:

	a.	lower the present values of both bonds and Bond K will now have a higher present value
	b.	raise the present values of both bonds and Bond J will now have a higher present value
	c.	lower the present values of both bonds and Bond J will now have a higher present value
	d.	raise the present values of both bonds and Bond K will now have a higher present value