Which of the following statements is TRUE?
A. The coupon rate on a previously issued bond represents the rate of return required by today's participants in the market place.
B. When a bond's yield to maturity is less than its coupon rate, the bond is selling at a discount.
C. The market prices of bonds with higher coupons are more sensitive to changes in market interest rates.
D. The market prices of bonds with longer maturities are more sensitive to changes in market interest rates.