A corporation has a liability that requires a payment of 100,000 in 5 years. It has purchased two zero-coupon bonds that provide full immunization for this liability. The two bonds mature in 3 years and 7 yea instruments (the two bonds and the liability) are valued at a 6% annual effective rate. Assuming that a 6% interest rate will again used to analyze the portfolio 1 year from now, which of the following statements will be true at that time? portfo 1. The present value of the assets equals the present value of the liability. II. The modified duration of the assets equals the modified duration of the liability. III. The portfolio is fully immunized. None The All Tonly tand out