142 points Problem 11-16 Pension funds pay lifetime annuitios to recipients. I a firm romains in business indefinitely, the pension obligation will resemble a perpetuity Suppose, therefore, that you are The yield to maturity on all bonds is 20%, a. If the duration of 5-year maturity bonds with coupon ratos of 16% (paid annually) is 37 coupon rates of 7% (paid an aty 6.5 years o much of each of these coupon bonds on market vato wil y u want to hold to both fully tr d and immunize your obligation? (Do not round Intermediate calculations. Enter your answers in millions rounded to 1 decimal place.) years ard the duration of 20-year at ty bonds with 5-year bond 20- year bond million miltion b. What will be the par value of your holdings in the 20-year coupon bond? (Enter your answer in dollars not in millions. Do not round intermediate calculations. Round your answer to the nearest dollar amount. Par values References eBook & Resources Worksheet Checkn