A new client seeks your recommendation on investment options. You've prepared a client profile: the investor is 66 years old, with low risk tolerance and in a low tax bracket. Their primary objectives are safety and income. Which of the following is the most suitable choice?

A) a municipal bond mutual fund investing solely in AAA- and AA-rated bonds
B) a growth and income mutual fund
C) insured bank certificates of deposit
D) large-cap common stock