Use the table for the question(s) below.
Consider the following four bonds that pay annual coupons: 
-Which of the four bonds is the most sensitive to a one percent increase in the YTM?
Definitions:
Profit-maximizing
The process or strategy of adjusting production and operation to generate the highest possible profit.
Many Buyers
A market condition characterized by the presence of numerous consumers or purchasers for goods and services.
Many Sellers
A characteristic of competitive markets where a large number of sellers offer similar or identical products, preventing any single seller from influencing market prices.
Distinguish
To recognize or treat someone or something as different from others.
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