Which of the following statements is/are FALSE?

I YTM is the discount rate that sets the present value of the promised bond payments equal to the current market price of the bond.

II To calculate the expected return, one should discount promised payments.

III To calculate the YTM, one should discount expected payments.

IV If there is a risk of default, then the bonds expected return is greater than the YTM.

V The realized return is always equal to the YTM.

	A.	II, III, IV
	B.	II, III, IV, V
	C.	I, II
	D.	II, IV
	E.	II, III