A company must make a payment of $24,759 in 8 years. The market interest rate is 12%. The companys portfolio manager wishes to fund the obligation using four-year zero-coupon bonds and perpetuities paying annual coupons. How can the manager immunise the obligation? Suppose two years have passed, and the interest rate remains at 12%. Is the position still fully funded? Is it still immunised? If not, what actions are required?