Problem 3 103 0 100 Consider a bond market that is represented by the payoff matrix 4- and P= 11 11 111 122 1. Is this market complete? 2. Formulate and solve the NA with and without the provision of allowing to transfer cash flow from period i to i+1 3. Explain your conclusion regarding the satisfaction of the NA condition. 4. Formulate and solve for the portfolio that generate a cash flow of at least $10 in each period such that the proceeds from the transaction is maximized. Note that the portfolio that maximizes the proceeds is also the one that minimizes the cost. Do this with and without the provision of allowing to transfer cash flow from period i to i+1. Explain the results.