You are given the following term structure for interest rates. Term Annual Spot Interest Rates 1. 7% 2. 8% 3. 9% (please do not use excel) (a) Compute the one year forward rates on [0,1], [1,2], and [2,3]. (b) A bond has par amount 1000, term to maturity 3 years, and annual coupon rate 6% payable annually. Assume the above term structure is correct.Calculate the value of the bond at t= 0. (c) Calculate the annual effective yield-to-maturity for the bond if the bond is soldat a price equal to its value