What percentage of bonds

问题如下：

What percentage of bonds should be in Thompson's tax-deferred account?

选项：

0%

45%

100%

解释：

B is correct. After making the charitable donation, Thompson's total investment portfolio will be worth €6.6 million (€3 million + €1.5 million + €3.5 million - €0.4 million). According to the recommended 45% bond allocation ratio, €2.97 million worth of bonds should be allocated. Since bonds are less tax-efficient than equities, they should be held in the tax-deferred account to the extent possible. The tax-deferred account has €3 million, which can accommodate the €2.97 million bond allocation.