这道网题中明确提到，在第六年之后，GNSK公司的长期分红增长率就和当前行业分红可持续增长率的平均值相当了。所以我觉得这里应该直接使用分红可持续增长率计算公式g=ROE*b=12.8%*（1-0.65）=4.48%。但答案讲解中所使用的计算方法却完全无视了这个公式。理由是什么呢？为什么ROE*b在这里不可使用？

老师，请问ROE=ROA*FL公式中每一项代表的意思是什么？为什么会有这个公式？

pari passu这个地方不太懂，如果bond1违约了，但是我买的bond3又没有违约，我为什么要求偿呢？

想问下老师，固定资产使用重估值模型力计量，开始是100万，降到90万，在利润表里记revaluation loss10万，之后从90万升到120万，先调整revaluation loss减10万，再在OCI加20万对吧？

老师，9分50秒的这道题，意思是不是就是要算理论价格，然后和市场上给的价格来对比，看哪个市场价格=算出来的理论价格，说明无套利

没明白全额摊销是本金越来越多？

买了一个固定资产，花了600万，能使用六年，如果用加速折旧法的话，第一年减200万，第二年为什么是减少180万，第三年减少150万，第四年减少70万，不明白是怎么计算的

請問原版書 Reading 20 課後題 Q24. 中解答 C is correct. Winslow’s Statement VI is incorrect. Due to covered interest arbitrage, the relative attractiveness of bonds does not depend on the currency into which they are hedged for comparison. Hence, the ranking of bonds does not depend on the base currency of the portfolio. A is incorrect because Winslow’s Statement IV is correct. Inter-market trades should be assessed on the basis of returns hedged into a common currency. Doing so ensures that they are comparable. Neither local currency returns nor unhedged returns are comparable across markets because they involve different currency exposures/risks. 當投資外國債券的時候，currency return 應該也要考慮進去吧? 請問為什麼statement VI 是錯的但是 statement IV 是對的?

請問可以解釋原版書 Reading 20 課後題 Q23. C 選項這段話嗎? "Inter-market carry trades do not, in general, break even if each yield curve goes to its forward rates. Intra-market trades will break even if the curve goes to the forward rates because, by construction of the forward rates, all points on the curve will earn the “first-period” rate (that is, the rate for the holding period being considered). Inter-market trades need not break even unless the “first-period” rate is the same in the two markets. If the currency exposure is not hedged, then breaking even also requires that there be no change in the currency exchange rate."

請問原版書 Reading 20 中課後 Q20: Based on Exhibits 1 and 2, which of the following portfolios is most likely to have the best performance given Edgarton’s yield curve expectations? A steepening yield curve 不是應該選bullet? 根據Exhibit 2. Selected Partial Durations 的表中可以知道 current portfolio and pro forma portfolio 2 是 barbell portfolio. 所以答案為什麼不是選 B 選項?