Which of the following bonds offers the highest currentyield?

a. A(n) 12.42%, 20-year bond quoted at 94.534.

b. A(n) 20.70%, 15-year bond quoted at 157.556.

c. A(n) 6.21%, 18-year bond quoted at 47.267.

The current yield of the bond in part a is %. (Round to two decimalplaces.)

The current yield of the bond in part b is %. (Round to two decimalplaces.)

The current yield of the bond in part c is %. (Round to two decimalplaces.)

Which of the three bonds offers the highest currentyield?(Select the best answerbelow.)

A.

All of the above bonds have a current yield of approximately 13.14%.

B.

The bond in part b has the highest current yield because it has the highest coupon rate and the highest market value.

C.

The bond in part a has the highest current yield because it is held for the longest period of time.