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Which of the following statements is FALSE?A. A bond's yield represents the annualized return that an investor would earn by holding it to maturity, if it does not default.B. Over time as a bond's maturity grows closer, if it does not default and if market yields do not change, then the price on a discount bond will decrease.C. When interest rates increase, then bond prices fall, and more so the longer their maturity and the smaller their coupons.D. If a bond is held to maturity and it does not default, then the reinvestment rate risk will offset the price risk.

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