Which of the following assets is worth the most? Which is worth the least? a) a 25 year, $1,500,000 zero-coupon (no interest) bond b) a 40 year annuity paying $25,000 per year c) a new 10 year bond that pays $20,000 per year in interest income plus the return of the principal of $400,000 at maturity For purposes of this problem, assume that we have determined that an appropriate discount rate to apply for all three instruments is 3%. Assume also that all payments occur at the ends of years involved.