NO.PZ202312260100000504
问题如下：
The cheapest-to-deliver bond for Gem Insurance is:
选项：
A.Bond A. B.Bond B. C.Bond C.解释：
Gem Insurance will try to deliver the cheapest-to-deliver bond to maximize the difference between the amount received by selling the futures contract and amount paid to deliver the cheapest-to-deliver bond.
The cost of acquiring the bond = Market Price + Accrued Interest
Both market price and accrued interest are reflected in the dirty price. Hence the cost of acquiring the bond is
Bond Purchase Value = (Dirty Price / 100) × Contract Size
Principal Invoice Amount received to deliver each bond is calculated as = (Futures Settlement Price / 100) × Conversion Factor × Contract Size
Based on the calculations in the table, the cheapest-to-deliver bond is Bond B, since the loss on delivering Bond B is less than the loss incurred with Bond A or Bond C.
如题，没看懂题目的解释