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A bond pays annual coupons of $10, has a par value of $100 and a maturity of 3 years. The 1-year, 2-year, and 3-year spot

A bond pays annual coupons of $10, has a par value of $100 and a maturity of 3 years. The 1-year, 2-year, and 3-year spot rates are 8%, 9%, and 9.5%, respectively. What is the price of the bond futures contract maturing 1 year from today? What action would you take if the futures price is $100?

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