During the past several years, there has been substantial growth in the dollar amount of portfolios managed using immunization and dedication techniques. Assume a client wants to know the basic differences between (1) classical immunization, (2) cash-matched dedication, and (3) duration-matched dedication. a. Briefly describe each of these three techniques. b. Briefly discuss the ongoing investment action you would have to carry out if managing an immunized portfolio. c. Briefly discuss three of the major considerations involved with creating a cash-matched dedicated portfolio. d. Select one of the three alternative techniques that you believe requires the least degree of active management and justify your selection.