Suppose that you are given the following information about two callable bonds that can be called immediately:

	Estimated Percentage Change in Price if Interest Rates Change by:
	50 basis points	+50 basis points
Bond ABC	+2%	5%
Bond XYZ	+11%	8%

You are told that both of these bonds have the same maturity and that the coupon rate of one bond is 7% and of the other is 13%. Suppose that the yield curve for both issuers is flat at 8%. Based on this information, which bond is the lower coupon bond and which is the higher coupon bond? Explain why.