All bonds have a $1,000 face or par value unless otherwise stated. k_c is the coupon rate and k_dis the market cost of debt.

True/ False Explain: If the required rate of return on a bond is lower than its coupon interest rate (and k_d remains above the coupon rate), the market value of that bond will always be below its par value until the bond matures, at which time its market value will equal its par value (Accrued interest between interest payment dates should not be considered when answering this question.)