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Consider a pension fund manager with known liabilities of $20 million in 10 years and $30 million in 30 years (with annual compounding). If

Consider a pension fund manager with known liabilities of $20 million in 10 years and $30 million in 30 years (with annual compounding). If the manager's portfolio has a value of $18 million and the interest rate is currently 5% per year, what is the dollar duration of the value of the liabilities if interest rates fall by 0.25%?

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