Suppose that you observe bond prices in the market as follows Note: the coupon is pald every 6 months (1) Calculate the zero rate for 1 and 1.5 years. (2) Calculate the half-year forward rate in one year, f(0,1,1.5). (3) Suppose a financial institution holds a bond liability with duration of 1.5 years. The institution worries about interest rate changes and wants to use the 1.5-year and 2-year bonds in the table to hedge the risk. Explain briefly how to use these two bonds to construct a hedging portfolio (calculation is not required)