However, per my analysis both diodes are conducting because if as assumed that D1 is cut off the voltage at D1 cathode side would be -3.92 V which is less than the voltage for the same diode anode side! Thus, since VD1 (anode side) = 0 - VD1 (cathode side) = -3.92
0-(-3.92) = 3.92 D1 will conduct. Am I right?
The Book is:
Microelectronic circuit design / Richard C. Jaeger, Travis N. Blalock. — 4th ed. ISBN 978-0-07-338045-2