Glacier Bank has $13.66 billion (market value) in total assets, $12.57 billion (market value) of which are financial assets. The market value of its liabilities, all of which are financial, is $10.41 billion. Assuming the average duration of the financial assets is 5.95 years and the duration of the liabilities is 2.25 years. The market value of the banks equity is 3.25. The banks duration gap is 3.75 and is its leverage adjusted duration gap is 3.06.

a. What is the expected dollar change in equity value if interest rates which are currently 5.25% increase by 25 basis points?

b. What is the expected percentage change in equity value?

c. What is the expected dollar change in equity value if interest rates which are currently 5.25% decrease by 35 basis points?

d. What is the expected percentage change in equity value?