3. If you construct a bond portfolio with five 6% coupon (semiannual payment), duration of 2.79 years, 3-year maturity bond sells at par ($1,000) and six 1-year zero coupon bond sells for $950. (a) Calculate the portfolio duration. (b) Calculate the yield for the portfolio. (a) (b) \begin{tabular}{|l|l|l} \hline \#NA & & (5 points) \\ \hline#N/A & (5 points) \end{tabular} 3. If you construct a bond portfolio with five 6% coupon (semiannual payment), duration of 2.79 years, 3-year maturity bond sells at par ($1,000) and six 1-year zero coupon bond sells for $950. (a) Calculate the portfolio duration. (b) Calculate the yield for the portfolio. (a) (b) \begin{tabular}{|l|l|l} \hline \#NA & & (5 points) \\ \hline#N/A & (5 points) \end{tabular}