Which of the following is false?

a. the money market is where long term debt securities are traded

b. a short-term U.S. Treasury has a yield equal to the risk-free rate, rrf.

c. the sustainable growth rate is the growth rate that results in a DFN of zero.

d. there is no default premium (DRP) on any U.S. Treasury securities

e. the bid price of a stock is lower than the ask price of the same stock.