A bond has an 8 percent annual coupon and a yield to maturity equal to 7.5 percent. Which of the following statements is most correct?

Select one:

a.If the yield to maturity remains constant, the price of the bond is expected to increase over time.

b.The bond has a current yield greater than 8 percent.

c.If the bond is callable, the YTC is a better estimate of this bond's expected return.

d.The bond sells at a price below par.

e.The bond price will increase when there is an increase in required discount rate.