Which one of the following statements is most likely to be true?

Select one:

a. If yield to maturity is lower than coupon rate, a bond will be trading at premium.

b. The prospect of future inflation strongly influences the shape of the term structure.

c. Even if a borrower is certain to make all payments, there still is risk in owning a coupon bond.

d. After a bond has been issued, its yield to maturity remains unchanged as time passes.

e. All of the statements are correct.