Which of the following statements is correct?

	a.	The time to maturity does not affect the change in a bond's value in response to a given change in interest rates.
	b.	You have two bonuses. One is a 10-year zero-coupon bond and the other is a 10-year bond that pays a 6% annual coupon. The same market rate is applied to both bonds, 6%. If the market rate increases from the current level, the zero coupon bond will experience a smaller percentage decline.
	C.	The shorter the time to maturity, the greater the change in a bond's value in response to a given change in interest rates.
	d.	The longer the term to maturity, the smaller the change in a bond's value in response to a given change in interest rates.
	e.	You have two bonuses. One is a 10-year zero-coupon issue and the other is a 10-year bond that pays a 6% annual coupon. The same market rate is applied to both bonds, 6%. If the market rate increases from the current level, the zero coupon bond will experience the largest percentage drop.