Question: A bank has calculated its duration gap as 3 . 9 4 years and its weighted average return of assets as 4 . 2 1

A bank has calculated its duration gap as 3.94 years and its weighted average return of assets as 4.21%. The bank has a total of $357 thousand market value in assets. If interest rates decrease by -0.2% for all assets and liabilities, according to EVE sensitivity analysis what is the approximate expected change in the economic value of equity? Round your final answer to two decimal places (Ex. $0.00).

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