Consider an SIV pooled from L1 and L2, where L1 and L2 are as described in question 35, and sliced into a senior tranche (ST) and a junior tranche (JT) in the following manner: ST will receive 100 if either L1 or L2 pays, but will receive 0 if both L1 and L2 default; JT will receive 100 if both L1 and L2 pay, but will receive 0 if either L1 or L2 defaults. In any scenario, the SIV balances its cash flow and you can ignore any service fees. Compute the expected payment and the variance of payment of each of the two tranches.