15. The financial statement on page 636 is for the cur- rent year. After you review the data, calculate the duration gap for the bank.

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Second National Bank Duration Duration Reserves Securities Assets (in years) Liabilities (in years) $5,000,000 0.00 Checkable deposits $15,000,000 2.00 Money market deposits 5,000,000 0.10 < 1 year 5,000,000 0.40 Savings accounts 15,000,000 1.00 1 to 2 years 5,000,000 1.60 CDs > 2 years 10,000,000 7.00 Variable-rate 10,000,000 0.50 Residential mortgages < 1 year 15,000,000 0.20 Variable-rate 10,000,000 0.50 1 to 2 years 5,000,000 1.20 Fixed-rate 10,000,000 6.00 > 2 years 5,000,000 2.70 Commercial loans Interbank loans 5,000,000 0.00 < 1 year 15,000,000 0.70 Borrowings 1 to 2 years 10,000,000 1.40 < 1 year 10,000,000 0.30 > 2 years 25,000,000 4.00 1 to 2 years 5,000,000 1.30 Buildings, etc. 5,000,000 0.00 > 2 years 5,000,000 3.10 Bank capital 5,000,000 Total $100,000,000 Total $100,000,000