12. Suppose players 1 and 2 will play the following prisoners' dilemma. Prior to interacting in the prisoners' dilemma, simultaneously each player i announces a binding penalty p,- that this player commits to pay the other player j in the event that player idefects and player j cooperates. Assume that these commitments are binding. Thus, after the announce- ments, the players effectively play the following induced game.6 (a) What values of p1 and p2 are needed to make (C, C) a Nash equilibritun of the induced game? (b) What values of p] and p2 will induce play of (C, C) and would arise in a subgame perfect equilibrium of the entire game (penalty announce- ments followed by the prisoners' dilemma)? Explain