Question: A bond fund manager is holding a $ 2 5 0 million bond portfolio with a modified duration of 1 9 . 5 and a

A bond fund manager is holding a $250 million bond portfolio with a modified duration of 19.5 and a convexity of 93. The manager considers a parallel shift in the yield curve. Compute the new bond portfolio dollar value under the following two cases. Keep 4 decimal places in millions, e.g., $5.1234 million. Show all work and final answers.
The yield curve shifts up by 15 basis points.
The yield curve shifts down by 20 basis points.

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