A corporate bond has a $8\%$ coupon rate, a term to maturity of $20$ years, and a par value of $$1000.$ The bond has a current market value of $$950.$ Which of the following must be true:

None of these are correct.

The bond's yield to maturity $($YTM$)$ must be less than $8\%$

The bond's yield to maturity $($YTM$)$ must be greater than $8\%$

The bond's yield to maturity $($YTM$)$ must be equal to $8\%$

The market required return for this bond is $8\%.$