2. You are given the following market data for zero-coupon bonds with a maturity payoff of $100. Maturity (years) Bond Price ($) Volatility in Year 1 94.34 2 88.50 10% N/A A 2-period Black-Derman-Toy interest tree is calibrated using the data from above. Calculate ra, the effective annual rate in year 1 in the "down" state. 2. You are given the following market data for zero-coupon bonds with a maturity payoff of $100. Maturity (years) Bond Price ($) Volatility in Year 1 94.34 2 88.50 10% N/A A 2-period Black-Derman-Toy interest tree is calibrated using the data from above. Calculate ra, the effective annual rate in year 1 in the "down" state