Which of the following is not true? The bond's bid-ask spread refers to the spread between the bond's bid price and ask price. The higher the spread, the easier it will be to buy or sell the bond at the market. A bond's real interest rate tends to be lower than its yield to maturity, assuming that the inflation rate is greater than zero. A bond's real interest rate reflects the interest rate the investor will really gain by discounting the yield to maturity (YTM, I/Y in the financial calculator) with the inflation rate. None of the above (all of the above are correct)