portfolio. In particular, Elliot intends to use $1 million of his inheritance to purchase 4 U.S. Treasury bonds: 1. An 8.68%,13-year bond that's priced at $1,100.43 to yield 7.46%. 2. A 7.815%,15-year bond that's priced at $1022.65 to yield 7.56%. 3. A 20 -year stripped Treasury (zero coupon) that's priced at $197.38 to yield 8.28%. 4. A 24-year, 7.46% bond that's priced at $957.11 to yield 7.86%. Note that these bonds are semiannual compounding bonds. a. Find the duration and the modified duration of each bond. b. Find the duration of the whole bond portfolio if Elliot puts $250,000 into each of the 4 U.S. Treasury bonds. c. Find the duration of the portfolio if Elliot puts $300,000 each into bonds 1 and 3 and $200,000 each into bonds 2 and 4. Which portfolio would you recommend, and why? Bond 1: 13 years, 8.68%, priced to yield 7.46%. The duration of this bond is years. (Round to two decimal places.) The modified duration of this bond is years. (Round to two decimal places.) Bond 2: 15 years, 7.815% priced to yield 7.56%. The duration of this bond is years. (Round to two decimal places.) The modified duration of this bond is years. (Round to two decimal places.) Bond 3: 20 years, zero coupon, priced to yield 8.28%. The duration of this bond is years. (Round to two decimal places.) The modified duration of this bond is years. (Round to two decimal places.) Bond 4: 24 years, 7.46%, priced to yield 7.86%. The duration of this bond is years. (Round to two decimal places.) The modified duration of this bond is years. (Round to two decimal places.) b. Find the duration of the whole bond portfolio if Elliot puts $250,000 into each of the 4 U.S. Treasury bonds. The duration of this portfolio is years. (Round to two decimal places.) c. Find the duration of the portfolio if Elliot puts $300,000 each into bonds 1 and 3 and $200,000 each into bonds 2 and 4 . The duration of this portfolio is years. (Round to two decimal places.) than the other portfolio. than the other portfolio. than the other portfolio. volatile