The fund has a Hability to pay exactly in 97 years (Present value of the lability equals $10 million What expression can best describe this portfolio? Explain in 1-2 sentences Market price risk dominates Coupon reinvestment risk dominates The portfolio is fully immunited None of the above An investment fund owns the following portfolio of 3 different types of bonds: Amount Invested Bond Bond Type Par value of Coupon each bond Rate Time-to- Yield-to- Maturity Maturity Annual $2 million A $100 8% Exactly 3 years coupon bond 7% $3 million B Zero-coupon $100 bond none Exactly 5 years 10% $5 million Perpetuity $100 4% Infinite 7%