Which of the following statements is TRUE? Select one:

a. Because most preferred stocks are perpetuities, their value can be determined by dividing the investor's required return by the annual dividend.

b. A coupon bond that sells at its par value has a zero expected capital gains yield.

c. On a coupon bond, the final interest payment is made one period before maturity, and only the bond's face value is paid as the final payment.

d. The dividend on common stocks is an example of annuities.