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You are managing a portfolio of $2.0 million. Your target duration is 20 years, and you can choose from two bonds: a zero-coupon bond with

You are managing a portfolio of $2.0 million. Your target duration is 20 years, and you can choose from two bonds: a zero-coupon bond with maturity six years, and a perpetuity, each currently yielding 4%. How will these fractions change next year if target duration is now 19 years? (Do not round intermediate calculations. Round your answers to 2 decimal places.) A. 35.0%. B. 20%. C. 15.12%. D. 11.2%.

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