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You are given the following details about a fully immunized portfolio: (a) The liability is a single payment of 3,180 due in two years. (b)

You are given the following details about a fully immunized portfolio: (a) The liability is a single payment of 3,180 due in two years. (b) The asset portfolio consists of a one-year zero-coupon bond maturing for x and a four-year zero-coupon bond maturing for y. (c) The annual effective interest rate is 6%. Calculate x.

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