Christophe Inc. is an electronics manufacturing firm. It owns equipment with a tax basis of $800,000 and a carrying value of $600,000 as the result an impairment charge. It also has a tax loss carry forward of $300,000 that is expected to be utilized within the next year or two. The tax rate on these items is 40% but the tax rate is expected to decrease to 35% for the foreseeable future. Which of the following amounts is closest to the net effect of the change in tax rate on the income statement? A Increase in deferred tax expense of $5,000. B Decrease in deferred tax expense of $5,000. C Increase in deferred tax expense of $25,000. 我觉得DTA不是最后减少了50万&5%，为什么最后是增加的呢？

为什么不选b呢

这里的total return是百分比形式，还是代数值形式啊？看上去各组成部分部分，都是百分比的形式。

老师，这里的1.2 million的face value是如何得来的？之前算出需要12份合约，意味着每份合约的价值是10万？不太明白。谢谢老师

要看显著性水平，是不是用P-value和阿法值比较？这题没给阿法值，只有t检验值-3.0565，请问如何判断显著性水平？（题目是多元回归课后题第三题B）

老师，在什么情况下会有insider discloses the information 却不违反 fiduciary duty的情况？我觉得如果insider泄密了，insider肯定违反了standard ：conservation of confidentiality的。

持有便利收益

另外，在计算carry interest及其他所有指标的时候，没有用到hurdle rate这个参数啊？

ＩＲＲ不应该是internal rate of return么？怎么直接用当年数相除？而不是用类似DCF的公式来测算？这里的gross IRR怎么有点像毛利润率的感觉？

在计算OAS和标准差的关系时，可不可以理解为标准差增大，期权的风险增大，所以期权所对应的收益率增大，且callable bond的ZS不变，所以OAS减小？ 如果可以那样理解的话，标准差增大，期权的价值增大，和期权所对应的收益率增大不是矛盾了吗？