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Your bond portfolio's value today is $200,000 and its duration is 3 years. You want to hedge interest rate risk by trading 8-year zero coupon

Your bond portfolio's value today is $200,000 and its duration is 3 years. You want to hedge interest rate risk by trading 8-year zero coupon bonds. Each of these zeros has a face value of $1,000. How many such bonds do you need to buy or sell? Assume that the yield curve is flat at 4% and that all rates are compounded annually.

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