Duration of a Bond Portfolio: Suppose an investor wants to buy bonds worth of $100 Millions. The investor is very concerned about interest rate volatility in the market and therefore wants the bond portfolio to be as insensitive to interest rate changes as possible. Given the yield curve data in Table 1, compute the duration of the following portfolios: Portfolio A - 30% invested into a 4.5 year bond paying 5% semiannually. - 30% invested into a 6.75 year bond paying 4% semiannually. - 20% invested into a 1.5 year floating rate bond with 80 basis point spread payed quarterly - 10% invested into 6.25 years zero coupon bonds - 10% invested into 3.5 year bonds paying 6% quarterly Portfolio B - 20% invested into a 3.5 year bond paying 6% semiannually. - 30% invested into a 4.75 year bond paying 3% semiannually. - 40% invested into a 5.5 year floating rate bond with 150 basis point spread payed quarterly - 5% invested into 3.25 years zero coupon bonds - 5% invested into 1.5 year bonds paying 4.25% quarterly Based on your duration calculations, which bond portfolio is less sensitive to changes in interest rates, and thus which portfolio would you recommend to invest in