4. Conduct DGAP analysis using the following information: Assets Amount Rate Macaulay's Duration Cash $23,000 0% 0 Bonds $102,000 7.2% 1.8 years Commercial loans $375,000 11.0% 1.5 years Liabilities & Equity Small time deposits $130,000 3.6% 4.0 years Large CDs $70,000 6.3% 1.0 year Transactions accounts $250,000 2.8% 3.3 years Equity $50,000 a. Calculate the bank's DGAP if the ALCO targets the economic value of stockholders equity. Is this bank positioned to gain or lose if interest rates rise? b. Estimate the change in economic value of equity if all market interest rates fall by an average of 1.5 percent. Compare the results of applying Equation 8.2 to each balance sheet item-adding up the total change in assets less the total change in liabilities to get the change in equity-versus using Equation 8.9 to find the estimated change in EVE