Which of the following bonds has the most price risk? Explain your answer. (Hint: Refer to Table 7.2.)

a. 7-year bonds with a 5% coupon.

b. 1-year bonds with a 12% coupon.

c. 3-year bonds with a 5% coupon.

d. 15-year zero coupon bonds.

e. 15-year bonds with a 10% coupon