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A pension plan is obligated to make disbursements of $1 million, $2 million, and $1 million at the end of each of the next three

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A pension plan is obligated to make disbursements of $1 million, $2 million, and $1 million at the end of each of the next three years, respectively. Find the Macaulay duration of the plan's obligations if the interest rate is 10% annually. Macaulay duration: _____ If the plan wants to fully fund and immunize its position, how much of its portfolio should it allocate to one-year zero-coupon bonds and perpetuities, respectively, if these are the only two assets funding the plan? One-year zero-coupon bond: _____% Perpetuity: _____%

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