Which of the following statement is incorrect? Most of the answers are correct except one. Whenever a bond's coupon rate is higher than the market rate of interest, the bond will sell at a premium. Bonds rated below Baa (or BBB) noninvestment-grade bonds are called speculative-grade bonds, high-yield bonds, or junk bonds. Corporate bonds are short-term IOUs, usually less than one year maturity, that represent claims against a firm's assets. The real rate of interest varies with the business cycle, with the highest rates seen at the end of a period of business expansion and the lowest at the bottom of a recession 
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