问题如下：
1. If Vander expects an 8 percent pretax return and capital gains are taxed at 20 percent, what is her accrual equivalent return over that time period?
选项：
A.6.40%.
B.6.78%.
C.4.60%.
解释：
B is correct.
FVcg =€400,000[(1 + r)n(1–tcg) + tcg]
=€400,000[(1 + 0.08)10(1–0.20) + 0.20]
=€770,856
Solving for the rate set equates €770,856 with its present value of €400,000
€770,856 =€400,000(1 + RAE)10
RAE = 0.0678 or 6.78 percent
这题并没有说是deffered capital gain tax，如何判断是到期一次性根据增值额交税？
