3.- Consider a pension plan that willpay $10,000 once a year for a 5-year period (5 annual ). The first payment will come in exactly 5 years (at the end of year 5) and the- last payment in 9 years (at the end of year 9). + tion of the pension obligation? The current interest rate is 9% per year for all maturities. (3 marks)- b. To generate the scheduled pension payments, the pension fund wants to invest the- present value of the future payouts in bonds and match the duration of its obligation in part a). If the fund uses 5-year and 10-year zero-coupon bonds to construct its investment position, how much money (dollar amount)ought to be placed in each bond now? What should be the total face value (not current market value) of each zero- coupon bond held