1. In determining a bond's yield-to-maturity, which of the following is true?

a. The bond's face value will be the opposite cash flow sign of the market price and interest

payments.

b. The selling value will be $1,000 or multiples of $1,000.

c. To arrive at YTM, the current yield function is used.

d. On a semi-annual coupon bond, the number of periods is multiplied by two, and the price and the

market interest rate is divided by two.

e. The required return equals the market rate of interest, which is the YTM.