A team has been chosen to build a portfolio for a non-profit organization from Michigan that specializes in feeding the homeless.The team's clients are fans of keeping their money in the state of Michigan because they receive so much of their funding from within that state.The team will be tasked with doing research on three options (Grand Rapids General Obligation Municipal, US Government 10 Year T-Note, and a 30 Year Ford Corporate) bond. They currently hold $500,000 in each bond for a total of $1.5 million.They also hold $10,000 in cash.Required: make a determination on whether to keep the positions in the portfolio, sell out and go to cash or replace with another bond position.Hint: thinking in terms of:

1. Macro Economics
2. Micro Economics/ Behavior Finance
3. Financial Statement Analysis
4. Technical or Trend analysis
5. Risk and Investment Objectives