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b) Comment on Client l's comment above about the bank guaranteed contract. Norris provides information on three clients she might refer to Whitney for portfolio management services, and asks him to design a dedication strategy for each. Whitney makes the following recommendations: Client 1: "This bank has sold a five-year guaranteed investment contract that guaranties an interest rate of 5.00% per year. I would purchase a bond with a target yield of 5.00% maturing in 5 years. Regardless of the direction of rates, the guaranteed value is achieved