When will bonds sell at a discount?
A) The issuing company will be able to retire the bonds at less than face at maturity
B) The credit standing of the issuing company is not as good as other companies in a similar line of business
C) The state rate of interest is more than the market rate at the time of the issue
D) The stated rate of interest is less than the market rate of interest at the time of issue
Answer: D
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