Imagine you are a provider of portfolio insurance. You are establishing a 4-year program. The portfolio you manage is currently worth $132 million, and you hope to provide a minimum return of 0%. The equity portfolio has a standard deviation of 25% per year, and T-bills pay 6% 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? (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 4% 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 4%, the manager should in stock. Imagine you are a provider of portfolio insurance. You are establishing a 4-year program. The portfolio you manage is currently worth $132 million, and you hope to provide a minimum return of 0%. The equity portfolio has a standard deviation of 25% per year, and T-bills pay 6% 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? (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 4% 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 4%, the manager should in stock