Which one of the following statements about bond price is NOT true? A. The value, or price, of any asset is the future value of its cash flows. B. To compute a bond's price, one needs to calculate the present value of the bond's expected cash flows. .. The expected future cash flows are estimated using the coupons that the bond will pay and the maturity value to be received. D.The required rate of return, or discount rate, for a bond is the market interest rate called the bond's yield to maturity. 2. Which of the following statements is true? A. The lower the transaction costs are, the greater a security's marketability, B. The interest rate, or yield, on a security varies with its degree of marketability. C. U.S. Treasury bills have the largest and most active secondary market and are considered to be the most marketable of all securities, D. All of the above are true. 3. Which of the following statements is true? A The interest risk premium always adds a downward bias to the slope of the yield curve. B. If investors believe inflation will be subsiding in the future, the prevailing yield will be upward sloping. c The longer the maturity of a security, the greater its interest rate risk. D.The real rate of interest varies with the business cycle, with the lowest rates seen at the end of a period of business expansion and the highest at the bottom of a recession