Today is time t. Two zero coupon bonds both have a face value of 100 dollars, which means both bonds are expected to pay $100 at Maturity (time T). Bond A is liquid and is often traded by average institutional investors at zero transaction costs. Bond B is illiquid. Its total direct and indirect trading cots is $5 per trade (either buy or sell). Suppose an average-sized institutional trader who wants to own the two bonds will trade three times in either bond (i.e., first buy it at t, then sell it and buy it back again at some time between t and T). Interest rate for discounting future bond price is zero for both bonds. In other words, everyone in this market is not risk averse. Please answer the following question:

Suppose the average-sized institutional trader above buys both bonds now at t. He will earn

A. Higher actual return in Bond B when the bond matures

B. The same actual return in both bonds at maturity

C. Negative return in Bond B

D. Higher actual return in Bond A when the bond matures