b. John needs to pay $55,000,$60,000 and $65,000 at the end of next 3 years respectively. The market interest rate is 4% per annum. i. What will be the duration of John's payment obligation? ( 4 marks) ii. Suppose John plans to fully fund the obligation using both 6-month zero coupon bonds and perpetuities. Determine how much (in market value) of each of these bonds John will hold in the portfolio. ( 5 marks)