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For a marketable debt securities portfolio classified as heldto- maturity, which of the following amounts should be included in the period’s net income, assuming the company elects the fair value option of reporting all of its financial instruments in the portfolio?
I. Unrealized temporary losses during the period.
II. Realized gains during the period.
III. Changes in the valuation allowance during the period.
IV. Unrealized gains during the period.