Which bond will most likely experience the greatest percentage change in price if the market discount rates for all three bonds increase by 100 basis points?

1. Bond A
2. Bond B
3. Bond C

The following information relates to Questions 17-19

Bond	Coupon Rate	Time-to-Maturity		Time-to-Maturity	Spot Rates
X	8%	3 years		1 year	8%
Y	7%	3 years		2 years	9%
Z	6%	3 years		3 years	10%

All three bonds pay interest annually.