2. One month ago, an investor entered into a forward agreement to sell a bond in three months' time at a price of $100. The current spot price for the bond is $101.50. Suppose the term structure of interest rates is such that the 1-month spot rate is 2%, the 2-month spot rate is 4% and the 3-month spot rate is 6%. Assume all interest rates are based on continuous compounding. a. Given the above information, what is the present value of the investor's position assuming the bond does not pay a coupon? b. Suppose instead the bond pays a 5% coupon and the next coupon payment is one month from today. In that event, what is the present value of the investor's position