5. A bond price at $98-04 has a modified duration of 6 years. DV01: (b) Suppose you have a $70 million face of this bond and yields rise 6 bps, ignoring convexity, what is the estimated profit and loss for the position? P/L: (c) You wish to hedge this position by taking a short position in a Treasury note with a DV01 of 671. What is the face amount of the Treasury you will sell short to make the position duration neutral? Face amount to sell short