The investment fund for which you are working is currently managing a bond portfolio with market value equal to $75$ million. You estimated that the duration of such portfolio is equal to $2\mathrm{.}9,$ while the convexity equal to $30.$ Determine the new value of your portfolio if the interest rates increase by $150$ basis points. Express the result in Million, i$.$e$.$ to indicate $1,000,000\mathrm{.}00$ write $1.$

Answer $(2$ decimal places$)$ THE CORRECT ANSWER IS $72\mathrm{.}24.$ PLEASE EXPLAIN THE STEPS ON HOW.