Question: (1 point) (Exam FM Sample Problem 182) A railroad company is required to pay 59320, which is due 3 years from now. The company invests

(1 point) (Exam FM Sample Problem 182) A railroad company is

(1 point) (Exam FM Sample Problem 182) A railroad company is required to pay 59320, which is due 3 years from now. The company invests 10000 in a bond with modified duration 7.5, and 40000 in a bond with modified duration dmod, to Redington immunize its position against small changes in the yield rate. The annual effective yield rate for each of the bonds is 7.5%. Calculate dmod. ANSWER =

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