Need help with this question, am I doing it right for his assets is it just 1000 x 98= 98,000$ +125,000$= 223,000$. What does the 4.5% have to do with it? (need help understanding parts a,b,c,d)

Liam is 28 years old and saving toward his retirement in 35 years. In his RRSP he owns 1,000 shares of Royal Bank of Canada valued at $98 each and $125,000 principal value of 4.5% Government of Canada 20-year bonds. The bonds trade at a premium of 30%. Liam wishes to sell his investments and purchase a mutual fund.

Part a

What is Liam’s asset allocation? Is it appropriate, and why?

Part b

Describe one type of risk to which each component of Liam’s portfolio is exposed.

Part c

What type of mutual fund should Liam purchase in order to most closely match his current portfolio? Please explain.

Part d

Identify one advantage and one disadvantage if Liam swaps his stocks and bonds for a mutual fund.