You are managing a portfolio of $1 million. Your target duration is 9 years, and you can choose from two bonds: a zero-coupon bond (z) with a maturity of 4 years and a perpetuity (p), each yielding 5%. What proportion of the $1 million should be invested in each bond?

Wz=.6875, Wp=.3125

Wz=.9000, Wp=.1000

Wz=.5555, Wp=.4445

Wz=.7059, Wp=.2941