Compute this bond's yield to maturity (YTM). Which statement is TRUE? a. A bond's YTM is fixed, but its coupon rate can change over time. b. A municipal bond (muni) represents borrowing by a state or local government entity. c. A bond will trade "at a discount" when investor's required return is less than the coupon rate. d. When interest rates increase, bond prices increase - a direct relationship. Which gives the bondholder the right to exchange bonds for shares of common stock (so give up