Which of the following statements is false?

Select one:

a. A bond's par (face) value is not necessarily the same as its market value.

b. An advantage of bond financing is that issuing bonds does not affect owner control.

c. The contract rate of interest on previously issued bonds changes as the market rate of interest changes.

d. The carrying value of a bond is computed as the par (face) value minus any unamortized discount or plus any unamortized premium.

e. A bond's future cash flows include the par (face) value paid at maturity and the semi-annual interest payments.