3. After some time, the bank from Question 1 was acquired by another bank and transformed into a digital banking subsidiary, keeping its brand name but without any premises. Its updated bank balance sheet in the first year of business operations (following the restructuring) is presented below. The fixed-rate mortgages on the balance sheet are with maturity T=5 years, par (face) value of $40, and 14% interest (annual). Any principals are paid fully at maturity T. The time deposits are with maturity T=2 years, par (face) value of $165, and earn 6% per annum to deposit holders. a) Estimate the duration of the 5-year mortgage portfolio. b) Estimate the duration of the 2-year time deposits. c) Estimate the duration of the bank's assets if the following information is also available: duration of Government Securities and Floating-rate loans (each) is 0.85