NO.PZ201805280100000303
问题如下：
The broker suggests that Young rebalance her $5.5 million money market account and the $3.0 million tax-deferred retirement account periodically in order to maintain their targeted allocations. The broker proposes the same risk profile for the equity positions with two potential target equity allocations and rebalancing ranges for the two accounts as follows:
■ Alternative 1: 80% equities +/– 8.0% rebalancing range
■ Alternative 2: 75% equities +/– 10.7% rebalancing range
选项：
解释：
我是直接从tax的影响来写的，老师您看如何？
- choose alternative 2. money market account has not favorable tax treatment, and shorter investment horizon. so can rebalance less and has wider range, and less on equity.
- choose alternative 1. TDA has favorable tax treatment, and longer investment horizon. so can rebalance more and has narrower range, and more on equity.
