On $1$ July $2022,$ Mini Ltd acquired some corporate bonds issued by Mouse Ltd$.$ They had a $$face value$$ of $$1$ million and offered a coupon rate of $10$ per cent paid annually for $3$ years $($paid on $30$ June$).$ The bonds would repay the principal of $$1$ million on $30$ June $2025.$ At the time of acquisition the market only required a rate of return on $7$ per cent on such bonds. Mini Ltd operates within a business model where government and corporate bonds are held in order to collect contractual cash flows and there is no intention to trade them. The present value interest factor of an annuity of $3$ payments of $$1$ at $10\%=2\mathrm{.}4869$ and $7\%=2\mathrm{.}6243.$ The present value interest factor of a lumpsum of $$1$ over $3$ periods at $10\%=0\mathrm{.}7513$ and $7\%=0\mathrm{.}8163.$ Which of the following is incorrect:

a$.$ All else being equal, Mini would have paid $$1,078,730$ for the bonds $(100000$x$2\mathrm{.}6243+1$m x $0\mathrm{.}8163).$

b$.$ All else being equal, Mini would have paid $$999,990$ for the bonds $(100000$x$2\mathrm{.}4869+1$m x $0\mathrm{.}7513).$

c$.$ The amount paid for the bonds differs from the face value of the bond $($$$1$m$)$ because the coupon rate differs from the market rate of return.

d$.$ None of the answers.