Which of the following statements is true about a zero coupon bond?

A zero coupon bond is taxed as a capital gain at the time the bond matures.

b.The discount on the issue of a zero coupon bond is written off over its life in the investor's financial statement.

c.A zero coupon bond is issued at a coupon rate that adjusts for inflation.

d.A zero coupon bond is issued at a substantial discount below its par value.e.The interest received every year on a zero coupon bond is taxed as interest income.