Bond A and Bond B are identical (same risk, maturity, par value, and coupon rate, etc.), except Bond A pays coupons semiannually and Bond B pays once per year. If both bonds sell for the same price, which one will have the larger yield to maturity?
a) Bond A
b) Bond B
c) Neither - both bonds will have the same yield to maturity.
d) Impossible to determine without more information.