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A major requirement in managing a fxed-income portfolio using a contingent immunization policy is monitoring the relationship between the current market value of the portfolio and the required value of the foor portfolio. This difference is defined as the margin or error. In this regard, assume a $200 million portfolio with a time horizon of six years. The avalable market rate at the initiation of the portfolio is 11%, but the client is willing to accept 9% as a floor rate to allow use of active management strategies. The current market values and current market rates at the end of Years 1,2 , and 3 are as follows: Assume that semiannual compounding is used. Do not round intermediate calculations. Enter your answers in millions. For example, an answer of $1.20 million should be entered as 1.20, not 1,200,000. Round your answers to two decimal places. a. Calculate the required ending-wealth value for this portfolio. s8malion b. Calculate the required ending-wealth value for this portfolio at the end of Years 1,2 , and 3. c. Compute the margin of error at the end of Years 1, 2, and 3. d. Indicate the action that a portfolio manager utilzing a contingent immunization policy would take if the margin of error at the end of any vear had been zero or negative. If the margin of error at the end of any year had been zero or negative, the portfolio manager would and immunlze it. active management of the portfolio