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Suppose the current Commonwealth Bond yield is 5.5% p.a. compounded semi-annually. Which of the following risk-free bonds would have the lowest price? a. A zero-coupon

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Suppose the current Commonwealth Bond yield is 5.5% p.a. compounded semi-annually. Which of the following risk-free bonds would have the lowest price? a. A zero-coupon bond, $100 face value, 12 years to maturity b. A 8.5% p.a. quarterly coupon bond, $100 face value, 10 years to maturity c. A 10% p.a. annual coupon bond, $100 face value, 8 years to maturity d. A 5.5% p.a. semi-annual coupon bond, $100 face value, 5 years to maturity e. A 6.25% p.a. semi-annual coupon bond, $100 face value, 3 years to maturity

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