When comparing the current yield and yield$-$to$-$maturity of a bond, which statement applies?

Yield$-$to$-$maturity accounts for the reinvestment of coupon payments.

Yield$-$to$-$maturity is based on the current market value of the bond, not the price paid.

Capital gains or capital losses are reflected in the current yield calculation.

Current yield includes in the calculation the time to maturity.