18) (8 points) Suppose that the annual yields to maturity for the 6-month and 1-year Treasury bill that pay no coupons is 4.8% and 5.2%, respectively. These yields also represent the 6-month and 1-year Treasury spot rates. Also assume the following Treasury yield curve (i.e., the price for each issue is $100) has been estimated for 6-month periods up to a maturity of 2 years: Years to Maturity 1.5 2.0 Annual Yield to Maturity (BEY) 5.8% 6.4% a. What is the 6-month forward rate 1.5 years from now on a bond-equivalent yield basis? b. Compute the arbitrage-free value of a 2-year Treasury security that pays semi-annual coupons with an annual coupon rate of 10%