Which of the following statements is/are true? I. If a $300,000 face value bond is issued at 102, the cash received will be $306,000. II. If a public company issues bonds at a discount, it indicates the company has a good credit rating. III. If the market rate is 12% and the stated rate is 14%, the bonds will sell at a premium. IV. If the market rate is 12% and the stated rate is 10%, the bonds will sell at a premium.

Select one:

a. II only

b. I and II

c. I and III

d. I and IV

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