The following table gives yields and durations for three 15-year bonds. The three coupon rates are 0%, 3.5%, and 7%. Which coupon rate belongs to which bond? What is the shape of the term structure of spot rates underlying the valuation of these bonds?

Bond	Yield	Duration
#1	3.5%	11.59
#2	3.5%	14.75
#3	3.5%	10.26