2. Which of the following is not true?

a. The bonds current yield is total annual coupon payments divided by the bonds face value.

b. The bonds bid-ask spread refers to the spread between the bonds bid price and ask price.

c. A private bonds marginal tax rate refers to the tax rate under which the investor who holds that specific private bond will be indifferent from investing at a government bond that offers a lower rate.

d. None of the above (all of the above are correct)