A zero coupon bond has 5 years to maturity which also happens to be the horizon date (HD) of the client. The YTM of similar risk instruments is 18% and the client expects you, the fund manager, to...

A zero coupon bond has 5 years to maturity which also happens to be the horizon date (HD) of the client. The YTM of similar risk instruments is 18% and the client expects you, the fund manager, to invest his $10 million subject to a 16%guaranteed return. Determine the critical value (CV) above at which the portfolio should be actively managed and the value at which the portfolio should be immunized against interest rate risk.