Which statement regarding types of debt is true?
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In the event of liquidation, the holders of senior mortgage bonds would receive payments only after the junior mortgage bondholders are paid off in full.
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Subordinated debt has higher default risk than senior debt.
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Investment-grade bonds typically provide a higher yield to maturity than speculative bonds.
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Convertible bonds have higher coupon rates than nonconvertible bonds of similar default risk because they offer the possibility of capital gains.