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The duration of a $350 million portfolio is 15.75 years. $75 million dollars in new securities are added to the portfolio, decreasing the duration of

The duration of a $350 million portfolio is 15.75 years. $75 million dollars in new securities are added to the portfolio, decreasing the duration of the portfolio to 15 years. What is the duration of the $75 million in new securities?

A.3.0 years

B.11.50 years

C.6.33 years

D.4.95 years

E.8.67 years

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