Pension funds pay lifetime annuities to recipients. If a firm will remain in business indefinitely, the pension obligation will resemble a perpetuity. Suppose, therefore, that you are managing a pension fund with obligations to make perpetual payments of $1.3 million per year to beneficiaries. The yield to maturity on all bonds is 14.0%. a. If the duration of 5-year maturity bonds with coupon rates of 10.0% (paid annually) is four years and the duration of 20-year maturity bonds with coupon rates of 5% (paid annually) is 11 years, how much of each of these coupon bonds (in market value) will you want to hold to both fully fund and immunize your obligation ? (Do not round intermediate calculations. Enter your answers in millions rounded to 1 decimal place.) b. What will be the par value of your holdings in the 20-year coupon bond? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.)