pension funds pay lifetime annuities to recipients. if a firm remains 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 $3.7 million per year to beneficiaries. the yield to maturity on all bonds is 20%. required: if the duration of 5-year maturity bonds with coupon rates of 16% (paid annually) is 3.7 years and the duration of 20-year maturity bonds with coupon rates of 9% (paid annually) is 6.3 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?