Consider the following Collateralized Mortgage Obligations (CMOs) with Tranche A and Tranche Z securities issued recently. Tranche A z Assets: 5-year, 10% fixed rate mortgage pool = $1,300,000 (including an overcollaterization of $300,000) Stated maturity Coupon Rate Amount Issued 3 years 6% $600,000 5 years 11% $400,000 All cash flows are annual. a) If the current market interest rate for Tranche A is 6%, determine the fair market value of Tranche A. (5 points) b) If the current market interest rate for Tranche Z is 13%, determine the fair market value of Tranche Z. (10 points)