A small trading firm has a securities portfolio with a current value equal to $80,000,000. The portfolio’s returns tend to be normally distributed with a 1% daily standard deviation and uncorrelated over time. The firm will use its VaR calculation to produce the maximum value of the loss that it is willing to incur on its portfolio at several thresholds. In particular, the firm seeks to calculate its portfolio VaR at 95% and 99% over a single day and over a 30-day month. That is, the firm seeks to calculate the maximum loss that it can incur at these probability thresholds. What are these four threshold values? How might these VaR figures be interpreted?