如果是不免税账户的话该选哪一个？

NO.PZ201812020100000106 问题如下 Cécileis a junior analyst for internationwealth management firm. Hersupervisor, Margit, asks Cécile to evaluate three fixeincome fun part ofthe firm’s globfixeincome offerings. Selectefinancita for the funAschel, Permot, anRosaiso are presentein Exhibit 1. In Cécile’sinitireview, she assumes ththere is no reinvestment income anththeyielcurve remains unchangeAfterfurther review of the composition of eaof the fun, Cécile makes thefollowing notes:Note1: Aschel is the only funof the three thuses leverage.Note2: Rosaiso is the only funof the three thhol a significant number ofbon with embeeoptions.Margitasks Cécile to analyze liability-basemantes for a meeting with VillashFountion. Villash Fountion is a tax-exempt client. Prior to the meeting,Cécile intifies whshe consirs to two key features of aliability-basemante.Feature1: It cminimize the risk of ficient cash inflows for a company.Feature2: It matches expecteliability payments with future projectecash inflows.Twoyears later, Margit learns thVillash Fountion nee $5 million incash to meet liabilities. She asks Cécile to analyze two bon for possibleliquition. Selecteta on the two bon are presentein Exhibit 2. Based on Exhibit 2, the optimstrategy to meet Villash Fountion’s cash nee is the sale of: 100% of Bon1. 100% of Bon2. 50% of Bon1 an50% of Bon2. A is correct. The optimstrategy for Villash is the sale of 100% of Bon1, whiPerreaux consirs to be overvalue Because Villash is a tax-exempt fountion, tconsirations are not relevant anPerreaux’s investment views ive her trang recommentions. 这个问题是关于这道题目的引申。Q1.卖掉bon, 如果要交税，是不是只要交capitgain t，和income t无关(投资收益应该与income tax无关？）？Q2.请老师看下这个公式是否正确？capittto pwith tloss harvesting=(realizegain -realizeloss)*capitgain t

NO.PZ201812020100000106 问题如下 Based on Exhibit 2, the optimstrategy to meet Villash Fountion’s cash nee is the sale of: 100% of Bon1. 100% of Bon2. 50% of Bon1 an50% of Bon2. A is correct. The optimstrategy for Villash is the sale of 100% of Bon1, whiPerreaux consirs to be overvalue Because Villash is a tax-exempt fountion, tconsirations are not relevant anPerreaux’s investment views ive her trang recommentions. 怎么计算出来liquition的份额呢？

NO.PZ201812020100000106

    请问这个题overvalue和 unrvalue什么影响，答案没有看懂。