A one-year zero-coupon bond yields 4.0%. The two- and three-year zero-coupon bonds yield 5.0% and 6.0% respectively. The five-year spot rate is not given above; however, the forward price for a two-year zero-coupon bond beginning in three years is known to be 0.8479. The price today of a five-year zero-coupon bond is closest to:

When the sum-of-the-years'-digits method is used, depreciation expense for a given asset will

a. decline by a constant amount each year. b. be the same each year. c. decrease rapidly and then slowly over the life of the asset. d. vary from year to year in relation to changes in output.

Some directors may choose to enter a ___________ vote to avoid individual liability.

Fill in the blank(s) with the appropriate word(s).