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A bank manager is worried because the income gap currently equals -$35 million and interest rates are expected to increase by 1.5%. Determine the amount

A bank manager is worried because the income gap currently equals -$35 million and interest rates are expected to increase by 1.5%. Determine the amount of rate-sensitive assets if rate sensitive liabilities are $467 million. Calculate the change in bank income if interest rates increase by 1.5%.

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