$3)$ The following table shows some spot rates.

For simplicity, assume all interest rates $($including spot rates and forward rates$)$ are compounded annually.

Year Spot Rate

$16\%$ p$.$a

$28\%$ p$.$a

$310\%$ p$.$a

Based on the table above, what is the $2-$year forward rate between year $1$ and year $3??$

a$)12\mathrm{.}05\%$

b$)10\mathrm{.}01\%$

c$)8\mathrm{.}99\%$

d$)14\mathrm{.}02\%$