Ronald sees that his employer's stock has grown from $20 a share to $60 a share this year, while most stocks have seen only 5% growth. His employer offers to let him convert a large portion of his salary into stock options. What is NOT a valid reason to turn down the stock offer? Select the best answer from the choices provided.

A. Stocks with high returns have high volatility, and Ronald's company may not grow further.

B. Ronald may be taxed more for capital gains than he would be for employment income.

C. Stock options are illiquid, and Ronald may not be able to use them to pay for unexpected bills.

D. Ronald would be committing stock fraud if he exercises the options.

John and daphne are saving for their daughter ellen's college education. ellen just turned 10 at (t = 0), and she will be entering college 8 years from now (at t = 8). college tuition and expenses at state u. are currently $14,500 a year, but they are expected to increase at a rate of 3.5% a year. ellen should graduate in 4 years--if she takes longer or wants to go to graduate school, she will be on her own. tuition and other costs will be due at the beginning of each school year (at t = 8, 9, 10, and 11).so far, john and daphne have accumulated $15,000 in their college savings account (at t = 0). their long-run financial plan is to add an additional $5,000 in each of the next 4 years (at t = 1, 2, 3, and 4). then they plan to make 3 equal annual contributions in each of the following years, t = 5, 6, and 7. they expect their investment account to earn 9%. how large must the annual payments at t = 5, 6, and 7 be to cover ellen's anticipated college costs? a. $1,965.21b. $2,068.64c. $2,177.51d. $2,292.12e. $2,412.76