For each of the following 3 bonds: yield rate is the same, face value is $1000, each bond is redeemable at par and each bond is sold at a premium (P > C). I. A 10 year bond with annual coupons at 8%, sells for P_I II. A 10 year bond with annual coupons at 6%, sells for P_II III. A 20 year bond with annual coupons at 6%, sells for P_III Which of the following statements regarding the prices of these bonds is true?

P_II > P_I, P_III > P_I

P_II > P_I, P_II > P_III

P_I > P_II, P_II > P_III

P_I > P_II, P_III > P_II