Which of the following statements is the least accurate?

	a.	The geometric average return is always smaller than or equal to the arithmetic average return.
	b.	Security returns are composed of cash returns and capital gains.
	c.	When the coupon rate is smaller than the yield to maturity, a bond sells below par (discount).
	d.	When the shareholders required rate of return is higher than ROE, a company can increase the stock price by retaining and reinvesting more.