Portfolio Ahas $65 million in stock and $45 million in bonds. Portfolio B has $40 million in stock and $70 million in bonds. Portfolio manager A makes a swap with portfolio manager B to exchange stock for bonds with a notional principal of $25 million. Year end returns are as follows: Stock Return 4% and Bond Return 6%

A. Show the asset allocation for each portfolio before the swap.

B. Show the asset allocation for each portfolio after the swap.

C. Show the year-end results without the swap for portfolio A and portfolio B. i.e. Portfolio A returns and Portfolio B returns.

D. Show the year-end results for portfolio A and portfolio B with the swap. i.e. Portfolio A returns and Portfolio B returns.

E. Does portfolio manager A gain or lose from this swap and show the dollar amount here. Show the same results for the year-end values for portfolio B.