Assume a cash basis taxpayer purchased a three$-$year certificate of deposit on January I of the current year.

Under the originial susue discoum $($OID$)$ rules which of the following is true?

a$.$ All of the income must be recognized in the year of maturity.

b$.$ The OID will be included in gross income for the year of purchase.

c$.$ The interest income will be recognized equally over three years.

d$.$ The interest income will be recognized over three years but will be greater in the third year than in the first year.

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