ABZ Bank owes $600 million to CD investors that mature in one year with an interest rate of 5% (the CDs have no interest payments until principal is repaid at maturity). ABZ Bank is capitalized with $150 million in equity. The assets of the bank consist of 5% annual coupon bonds with a duration of 3.8 years. Answer the following questions about ABZ Bank be sure to show your work and report interest rates to the nearest basis point and duration to the nearest one-hundredth of a year.

What is the leverage adjusted duration gap of ABZ bank?