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Price a 2-year, 6% annual coupon bond, using the following interest rate tree for one-year rates. Assume annual compounding. Par is 100. Both states have

Price a 2-year, 6% annual coupon bond, using the following interest rate tree for one-year rates. Assume annual compounding. Par is 100. Both states have equal probabilities of happening. Round your answer to 2 decimal places. For example, if your answer is 25.689, please write down 25.69

t = 0 t = 1

r_0 = 4.5% r_1,L = 6.8%

r_1,H = 8.2%

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