If the required return on a bond does not change from one year to the next, then ____________ over the same period. (Ignore changes in default risk)

Select one:

a. The price of a perpetual bond will rise.

b. The price of a discount bond will fall.

c. The price of a premium bond will rise.

d. The price of a bond selling at par will remain unchanged. e. The price of a convertible bond will rise.