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Consider the following DB pension plan: market value of assets = $ 3 0 0 million, projected value of liabilities = $ 4 5 0

Consider the following DB pension plan: market value of assets =$300 million, projected value of liabilities =$450 million, liability duration (i.e., duration of liabilities)=10. If the portfolio manager wants to hedge interest-rate risk, what should be the duration of her portfolio?
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