Which of the following statements is correct?

a.Bonds are issued at a price calculated by using the present value of the stated rate of interest on the day the bond is purchased.

b.If the face rate of interest on a bond is not equal to the market rate of interest, then the company desiring to issue the bonds must reprint its bond certificates.

c.The market rate of interest has no bearing on the selling price of the bonds.

d.The actual issue price of a bond represents the present value of all future cash flows related to the bond.