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You are managing a bond portfolio of $1.0 million. Your target duration is 41 years, and you can choose from two bonds: Bond A with

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You are managing a bond portfolio of $1.0 million. Your target duration is 41 years, and you can choose from two bonds: Bond A with 51 years of duration and a Bond B with 35 years of duration, each currently yielding 2% How much money should you investment in Bond A? (Express your answer with the $ sign and to the nearest dollar with a comma and no decimal space. L.E., $XXX,XXX.) Note that the portfolios' duration is the woighted average duration of A and B.WAD of A. WBD of B

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