You are to use a Black-Derman-Toy model to determine F0,2[P(2, 3)], the forward price for time- 2 delivery of a zero-coupon bond that pays 1 at time 3. In the Black-Derman-Toy model, each period is one year. The following effective annual interest rates are given:

rd = 3% , ru = 6% , rdd = 2% , ruu = 8%

Determine 100 F0,2[P(2, 3)].