Which of the following statements of bonds is NOT true?

	a.	Yield to maturity of a bond is the rate of return earned on a bond held until maturity.
	b.	Coupon payment of a year equals to the coupon rate multiply the face value.
	c.	The value of a bond is the present value of all the cash flows that will be generated by the bond.
	d.	The value of a bond changes over time because the coupon rate of the bond changes over time
	e.	The value of a bond changes over time because the interest rate (discount rate, YTM) changes over time.