Choose all the correct statements.

Group of answer choices

A muni bond has the same terms and risk as those of a corporate bond, except that the muni bond has a lower coupon rate. Then the muni bond must be sold at a price lower than that of the corporate bond.

Bond rating is a measure of default risk. The higher the bond rating is$,$ the smaller the default risk.

Zero$-$coupon bond should be discounted annually because there is no coupon payment.

Both interest rate risk premium and inflation premium can be the driving factor that leads to a downward sloping yield curve.

The higher the liquidity a bond has, the lower the yield would be$.$