Which of the following statements is correct?

A. The bid price for a stock is typically higher than the ask price.

B. When calculating shareholders' equity, we need to consider market value of the properties and equipments.

C. When a firm goes public (IPO), the first day returns tend to be positive.

D. For mutually exclusive projects, NPV and profitability index will give us the same result.

E. All else equal, the bond price will be more sensitive to interest rate changes when the coupon rate is higher.