Capital sponsors a 401(k) profit sharing plan. In the current year, ignoring ADP/ACP rules, if "Dollar" Bill, age 57, earns $100,000, what is the maximum amount he can defer in the 401(k) plan for 2019?

Bank-and-file employees who are beneficiaries of an ESOP are protected with the put option because:

a. The employee can force the corporation to sell the shares at a higher price.

b. The employee can force the corporation to "buy back" the shares at fair market value.

c. The worker may force the company to "repurchase" the shares at a minimum price of 25 percent of the nominal value.

d. None of the above is correct.