NO.PZ2023032703000014
问题如下：
Daasvand learns that Villash Foundation needs $5,000,000 in cash to meet liabilities. She asks Perreaux to analyze two bonds for possible liquidation. Villash Foundation is a tax-exempt client. Selected data on the two bonds are presented in Exhibit 2.
Based on Exhibit 2, the optimal strategy to meet Villash Foundation’s cash needs is the sale of:
选项：
A.
100% of Bond 1.
B.
100% of Bond 2.
C.
50% of Bond 1 and 50% of Bond 2.
解释：
A is correct. The optimal strategy for Villash is the sale of 100% of Bond 1, which Perreaux considers to be overvalued. Because Villash is a tax-exempt foundation, tax considerations are not relevant and Perreaux’s investment views drive her trading recommendations.
老师 怎么理解这个债券现在overvalue所以有capital gain，我的第一反应是现在overvalue 那之后就可能回归价值、债券价格就跌落了..
