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Based on a companys balance sheet, the asset includes: A1 with value of $3 million and duration of 2years A2 with value of $2 million

Based on a companys balance sheet, the asset includes:

A1 with value of $3 million and duration of 2years

A2 with value of $2 million and duration of 6 years

A3 with value of $1 million and duration of 8 years

The liability includes:

L1 with value of $4 million and duration of 20 years

L2 with value of $2 million and duration of 30 years

What is the liability value change in million dollars if interest rate decreases by 1 basis point?

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