The So-Called Coupon Effect States That

The so-called coupon effect states that:

A) Prices of low-coupon securities tend to rise faster than the prices of high-coupon securities when market interest rates decline
B) The potential for capital gains and losses is greater for securities carrying high, rather than low, coupon rates
C) The present-value of a stream of expected payments from a security is more sensitive to interest rate changes with higher, rather than lower, coupon rates
D) The coupon rate attached to a security affects its market price but does not affect its price rise
E) None of the above