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Pension funds pay lifetime annuities to reciplents, If a firm remains in business indefinitely, the pension obligation will resemble a perpetuity. Suppose, therefore, that you are managing a pension fund with obligations to make perpetual payments of $3.7 million per year to beneficialies. The yieid to maturity on all bonds is 20%. Required: 0. If the duration of 5 year maturity bonds with coupon rates of 16% (pald annually) is 37 years and the duration of 20 -year maturity bonds with coupon rates of 9% (paid annually) is 6.3 years, how much of each of these coupon bonds (in market value) will you want to hold to both fully fund and immunize your obligation? (Do not round intermediate colculations, Enter your answers in millions rounded to 5 decimal ploces.) b. What will be the par value of your holdings in the 20 year coupon bond? (Enter your answer in dellars not in millions. Do not round intermediate colculations. Round your answer to the nearest dollar amount.)