Historical VaR Rational Investment is estimating VaR using the historical simulation method at the 99% confidence level for its fixed income portfolio currently valued at $600. Using daily returns for the last 290 days (ordered in decreasing order), the largest negative daily returns are the following: [-2.00, -2.00, -1.92, -1.90, -1.79, -1.75, -1.74, -1.73, -1.73, -1.71]
a. What is your estimate of the daily dollar VaR? $ million Round your answer to two decimal places. Ignore the negative sign
b. What is your estimate of the daily dollar expected shortfall? $ million Round your answer to two decimal places. Ignore the negative sign.