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Consider the following balance sheet (in millions) for a bank: Assets: | Duration = 7 years | $120 | Liabilities: | Duration = 5 years | $108 | |...

Consider the following balance sheet (in millions) for a bank:


Assets:

| Duration = 7 years | $120 |


Liabilities:

| Duration = 5 years | $108 |

| Avg. Interest rate | 6.0 % |


Equity: $12

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