1. Under what conditions is the current yield a good approximation of the YTM?

   	a.	The bond has a relatively short time before it matures and sells at a relatively deep discount.
   	b.	The bond has a relatively long time before it matures and sells at a relatively deep discount.
   	c.	The bond has a relatively short time before it matures and sells at a relatively large premium.
   	d.	The bond has a relatively long time before it matures and sells near par.
   	e.	The bond has a relatively long time before it matures and sells at a relatively large premium.