TASK 3 Fixham has been asked to examine the CDEF investment strategy and portfolio composition. As part of that larger effort, you have specifically been asked to construct a bondonly portfolio option. You are provided with the cash ow generated based on the current studentsr population which represents the future payments from the CDEF for the foreseeable future. Using the yield curve provided, please perform the following: - Calculate the reserve for the CDEF. - Determine the single equivalent rate that would produce the same reserve. - Calculate the modied duration of the reserves. - Recommend an investment strategy which matches the CDEF obligation based on your answer ahove; given that in Cascadia there are 3 types of bonds portfolio: o Short Duration: 9.8 o Medium Duration: 13.9 o Long Duration 18.2 Summarize and present your vmrk in a memo to your project lead including contrasting the current investment strategy with your recommended strategy. Create your memo to the project lead in the appropriate section of the Microsoft Word template