Calculating the price of the bond using present value calculations is required due to which of the following considerations:

a. The variance between supply and demand for bonds results in pricing discrepancies

b. The variance between the contract rate on a bond and its current market interest rate result in bonds in most instances trading at a discount or premium from their stated principal value

c. The frequency of the interest payment impacts the market price of the bond

d. None of the above statements are true.