Bond yields and prices over time A bond investor is analyzing the following annual coupon bonds: Each bond has 10 years until maturity and has the same risk. Their yield to maturity (YTM) is 9%. Interest rates are assumed to remain constant over the next 10 years. Label the curves on the following graph to indicate the path that each bond's price, or value, is expected to follow. Based on the preceding information, which of the following statements are true? Check all that apply. All of the bonds will have the same value when they reach maturity. Irwin's bonds are a better investment than Smith's bonds. The expected capital gains yield for Johnson's bonds is positive. Smith's bonds are a better investment than Johnson's bonds. If a bond is selling for a price much lower than its par value, it is most likely that the bond is bond