Moreland, Inc. issued $15-$year bonds with a maturity value of $$120$ million. Which of the following statements is true if the bonds were issued at a discount?

The yield rate of interest exceeded the coupon rate.

The cash rate of interest exceeded the coupon rate.

The yield rate of interest was less than the coupon rate.

The yield rate of interest was greater than the rate on equivalent risk$-$rated bonds.