22. In relation to bonds, which is correct:

Select one:

a.

For two bonds of the same maturity but with different coupons, the bond with the higher coupon should have higher price.

b.

A bond with a higher credit rating generally offers higher coupons.

c.

The main sources of financing for businesses, in order of importance, are issuing bonds, issuing shares, and lastly borrowing from financial intermediaries.

d.

The yield to maturity is greater than the coupon rate when the current bond price is above its face value.

e.

Prices for long-term bonds are more volatile than those for shorter-term bonds.