Please answer the B part. Working is not required. Thanks

Pension funds pay lifetime annuities to recipients. If a firm will remain in business indefinitely, the pension obligation will resemble a perpetuity. Suppose, therefore, that you are managing a pension fund with obligations to make perpetual payments of $1.8 million per year to beneficiaries. The yield to maturity on all bonds is 11.0%. a. If the duration of 5-year maturity bonds with coupon rates of 8.5% (paid annually) is four years and the duration of 20-year maturity bonds with coupon rates of 4% (paid annually) is 11 years, how much of each of these coupon bonds in market value) will you want to hold to both fully fund and immunize your obligation? (Do not round intermediate calculations. Enter your answers in millions rounded to 1 decimal place.) Answer is complete and correct. 5-year bonds 20-year bond 2.1 14.3 million million $ b. What will be the par value of your holdings in the 20-year coupon bond? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Answer is complete but not entirely correct. Par value S 11.51 million Pension funds pay lifetime annuities to recipients. If a firm will remain in business indefinitely, the pension obligation will resemble a perpetuity. Suppose, therefore, that you are managing a pension fund with obligations to make perpetual payments of $1.8 million per year to beneficiaries. The yield to maturity on all bonds is 11.0%. a. If the duration of 5-year maturity bonds with coupon rates of 8.5% (paid annually) is four years and the duration of 20-year maturity bonds with coupon rates of 4% (paid annually) is 11 years, how much of each of these coupon bonds in market value) will you want to hold to both fully fund and immunize your obligation? (Do not round intermediate calculations. Enter your answers in millions rounded to 1 decimal place.) Answer is complete and correct. 5-year bonds 20-year bond 2.1 14.3 million million $ b. What will be the par value of your holdings in the 20-year coupon bond? (Do not round intermediate calculations. Enter your answer in millions rounded to 2 decimal places.) Answer is complete but not entirely correct. Par value S 11.51 million