Which of the following statements about bond terminology is correct?
A. The carrying value of the bond is always equal to the face value of the bond.
B. The stated rate of interest always presents the amount that investors are willing to pay for the bond on the issue date.
C. The face value of a bond is what it is currently worth in the market.
D. The stated interest rate is expressed as an annual interest rate even if the bonds pay semiannual interest payments.
Answer: D
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