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2. Bank of Alaska's stock portfolio has a market value of $10,000,000. The beta of the portfolio approximates the market portfolio, whose standard deviation (Om)

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2. Bank of Alaska's stock portfolio has a market value of $10,000,000. The beta of the portfolio approximates the market portfolio, whose standard deviation (Om) has been estimated at 1.5 percent. What is the 5-day VAR of this portfolio, using adverse rate changes in the 99th percentile? (5 points)

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