3. A bond that matures in one year has a payoff of either 0 or 100 dollars with equal 100 probability, Xt+1 = 0 consumption and an annual income of I = 100 would be willing to pay today for this bond given: (100. Find the price that an investor with power utility of a. An annual discount factor d = 1 and a risk aversion parameter y = 2 (2 points) b. An annual discount factor 8 = 0.9 and a risk aversion parameter y = 2 (2 points) 3. A bond that matures in one year has a payoff of either 0 or 100 dollars with equal 100 probability, Xt+1 = 0 consumption and an annual income of I = 100 would be willing to pay today for this bond given: (100. Find the price that an investor with power utility of a. An annual discount factor d = 1 and a risk aversion parameter y = 2 (2 points) b. An annual discount factor 8 = 0.9 and a risk aversion parameter y = 2 (2 points)