Three students study for the finance exam. Each of them has summarized one key concept regarding the bond pricing and yields. Which one of the following is (are) correct?

Madelyn: The bond must be priced at par value if a bonds coupon rate is equal to its current yield and yield to maturity

Giavana: Zero-coupon bond is traded at discount and sold at premium

Francesca: If two bonds, one premium and one discount, have identical yield-to-maturity, the investor's rate of return on those bonds must be identical. Only the return is distributed differently between current yield and capital gain/loss yield.

A. Giavana and Francesca

B. Madelyn and Francesca

C. Madelyn and Giavana

D. Francesca only