第21页短期因素的第五点strong compliance culture是短期因素吗，老师只说了4点，最后这点算么？

第4题 PV = 2,156,000; n = 10; PMT = 150,000，这些都是哪来的呢

第三题：Asset beta = 2.27 Levered beta = 2.27 *{1＋ [(1 - 0.23)*(0.01)]} = 2.2875 权益资本成本 = 0.0525 (2.2875)(0.07) = 0.2126 or 21.26%

这个embedded collar, 是相当我 long 了一个collar 还是这个dealer long 了一个collar啊？ “”The formula, in this case, would require the investor to deliver all its ABC Corp. shares if the price of ABC shares in three years is less than $95. If the price of ABC shares is greater than $95 but less than $110, the investor must deliver $95 worth of shares. If the price of ABC shares is above $110, the investor must deliver $95 worth of shares plus the value of the shares above $110.“”书上这段话，看不懂

为什么credit rating 会migrate over time呢？

sales-type，资产除了确认应收租赁款，还确认其他科目吗？销售部分在bs is中如何确认呢？

第五题答案有缺失，完全没看懂，可以详细解答一下吗

请问老师自相关是不是也是多重共线性的一种，多重共线性和自相关有什么本质区别吗？

corporate family rating是什么意思呀？

之前在承租人部分，讲融资租赁，不是说资产要记rou，负债要记lease liability吗？为什么这里又说不计bs表呢？