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Hyams bank holds two bond porfolios. The DEAR of the two portfolios are listed below: Portfolio DEAR (in millions) $5.4 $8.4 The correlation coefficient between

Hyams bank holds two bond porfolios. The DEAR of the two portfolios are listed below:

Portfolio

DEAR (in millions)

$5.4

$8.4

The correlation coefficient between the daily returns of the two bond portfolios is -0.13.

What is the DEAR of the bank's total bond position?

(Please round your answer to two decimal places in terms of millions of dollars)

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