Price a 3-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	t = 2
		r_2,HH = 8.167%
	r_1,H = 4.646%
r_0 = 2.000%		r_2,HL = 6.050%
	r_1,L = 3.442%
		r_2,LL = 4.482%

Please answer the BELOW question:

What is the value of the bond (with coupon payment included) in node r_1,L using the example above? Round your answer to 2 decimal places. For example, if your answer is 25.689, please write down 25.69.