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Question 8 (1 point) Consider a portfolio with a market value of $50 million and...

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Question 8 (1 point) Consider a portfolio with a market value of $50 million and a modified duration of 7 years. Its manager wants to achieve a modified duration of 5 years by using a swap with a modified duration of 3 years. What position should the manager take in the swap? Notional principal of $16,666,667, fixed-rate receiver Notional principal of $16,666,667, fixed-rate payer Notional principal of $33,333,333, fixed-rate receiver Notional principal of $33,333,333, fixed-rate payer

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