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 for that all dividends are reinvested) a-1. How much should be placed in bills? (Enter your answer in millions rounded to 2 decimal places.) T-bills . Million a-2. How much in equity? (Enter your answer in millions rounded to 2 decimal places.) Portfolio in equity million b-1. What is the delta if the new portfolio falls by 2% on the first day of trading? (Negative value should be indicated by a minus sign. Round your answer to 4 decimal places.) Delta of the portfolio b.2. Complete the following: (Enter your answer in millions rounded to 4 decimal places.) Assuming the portfolio does fall by 2%, the manager should I in stock