Given the following:

- Current spot \(=0.08\)

- Annualized mean for the spot rate's logarithmic return of 0.022

- Annualized variance for the spot rate's logarithmic return of 0.0054

- Binomial interest rate tree with monthly steps Determine the values of the following:

a. Five-year, \(8 \%\) option-free bond, with \(F=100\)

b. Five-year, \(8 \%\) callable bond \((F=100)\) with call price \(=100\)

c. Five-year, \(8 \%\) putable bond \((F=100)\) with put price \(=100\)