What is the present value of a $12 million pool of 15 -year mortgages with an 13.5 percent per year monthly mortgage coupon if market rates are 10 percent? The GNMA guarantee fee is 6 basis points and the Fl servicing fee is 44 basis points. a. Assume that the GNMA pass-through is fully amortized. b. Assume that the GNMA pass-through is only haif amortized. Market rates are still 10 percent. If there is a lump sum payment at the maturity of the GNMA pass-through that equals 50 percent of the mortgage pool's face value, find the present value of the passthrough. (For all requirements, enter your answers in dollars not in millions. Do not round intermediate calculations. Round your answers to the nearest dollar amount.)