Which of the following statements is correct?

Select one:

a.The price of the bond decreases if the yield to maturity decreases

b.The price of the bond is the present value of the payments promised by the issuer

c.The price of the bond is always the same as the face value

d.The coupon size will decrease if the number of coupons per year decreases

e.The face value is the only determinant of the coupon size