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| Choose the answer that best completes the return objective for the defined benefit plan. The return objective is to generate total returns sufficient to meet projected pension liabilities while protecting against inflation. The effective maturity of the pension liabilities and the volatility of the firm's earnings require an emphasis on: A. income-producing assets with a nominal return of 8% and a portfolio with a maturity of 20 years. B. long-term capital gains to minimize taxes and a nominal after-tax return of 8% and a portfolio with a duration of 8 years. C. income-producing assets with a nominal return of 8% and a portfolio with a duration of 8 years. |