Imagine you are a provider of portfolio insurance. You are establishing a 4-year program. The portfolio you manage is currently worth $118 million, and you hope to provide a minimum return of 0%. The equity portfolio has a standard deviation of 30% per year, and T-bills pay 8% per year. Assume for simplicity that the portfolio pays no dividends (or that all dividends are reinvested). a-1. How much should be placed in bills? (Do not round intermediate calculations. Round your answer to 2 decimal places. Enter your answer in millions. Omit the "$" sign in your response.) T-bills $0 million a-2. How much in equity? (Do not round intermediate calculations. Round your answer to 2 decimal places. Enter your answer in millions. Omit the "$" sign in your response.) Portfolio in equity $C million b-1. What is the delta of the new portfolio if the stock portfolio falls by 2% on the first day of trading? (Do not round intermediate calculations. Round your answer to 4 decimal places. Negative amount should be indicated by a minus sign.) Delta of the portfolio b-2. Complete the following (Do not round intermediate calculations. Round your answer to 2 decimal places. Enter your answer in millions. Omit the "$" sign in your response.): Assuming the portfolio does fall by 2%, the manager should (Click to select) A $ million in stock