Holding the market yield and the coupon rate of a bond constant, as the time to maturity increases: (Select from the drop-down menu.)

A. The value of the bond will fluctuate less for any change in market yields.

B. The sum of the present value of the coupon payments represents a larger share of the total bond value than the present value of the principal.

C. The discounted face value of the bond represents a larger percentage of the bond's total value than the total present value of the interest payments.

D. The default risk on corporate bonds decreases.

E. The discount factor used to calculate the present value of the principal increases.