Consider the following bonds:

- Bond A is a 5-year 6% coupon bond with a 10% yield to maturity. - Bond B is a 10-year bond with a 12% coupon and a 10% yield to maturity. - Bond C is a 10-year bond zero-coupon bond with a 10% yield to maturity.

1. Bond C has a higher duration than Bond A. 2. If the yield to maturity on all three bonds falls to 9%, Bond B will have the largest percentage increase in Price. 3. Bond B has a higher duration than Bond C. 4. All three bonds sell for less than par value.