Which one of the following is not correct?

Select one:

a. For bonds issued at a discount: coupon interest rate equals to the market interest rate when the bonds are issued.

b. For debt issued at a premium, coupon interest rate is greater than the market interest rate when the debt is issued.

c. For debt issued at par: interest expense reported on the income statement equals the cash paid for interest.

d. For bond repurchases: Gain (loss) on bond repurchase = Net book value of bonds Cash paid to repurchase bonds.