老师，C为啥不对

问题如下：

Caudill responds by telling Wang that he prefers to invest in equity securities that are highly liquid, provide high income, and are not subject to double taxation. Based on Caudill’s investment preferences, the type of real estate investment Wang is most likely to recommend to Caudill is:

选项：

A.Publicly traded real estate investment trusts (REITs) B.Publicly traded real estate operating companies (REOCs) C.Publicly-traded residential mortgage-backed securities (RMBSs)

解释：

publicly traded REITs, best satisfy Caudill’s investment preferences. REITs are equity investments that, in general, are income tax exempt at the corporate/trust level, so there is no double income taxation. To qualify for the income tax exemption, REITs are legally obligated to pay out a high percentage of income to their shareholders, and this typically results in relatively high income for investors. Lastly, public REITs are generally liquid as they are traded in stock exchanges.