A B. C. E. 6. My dad promises me a cash gift of $15,000 three years from today if I graduate from college in 3 years. What is the value of this gift today if the time value of money is 3%? $11,591.15 $13,727.12 $12.200.11 D. $14,727.12 None of the above Which of the following statements is incorrect? When interest rates rise, bond prices fall. Short-term bonds are riskier than long-term bonds, holding everything else constant. A convertible bond can be converted into a specified number of common shares of the issuer before the bond expires. D. A callable hond can be redeemed before maturity by the issuer. What is the present value of the following cash flows, assuming a 7% opportunity cost? Assume the cash flows occur at the end of the stated years. I 7 A. . C. 8. Year 1 2 3 4 Cash Flow $100 $2,000 $1,000,000 $4,000,000 A B. C. D. E. $2,002,100 $3,869,719.06 $4,062,366.39 $4,632,614.27 None of the above