You have been asked to value a three$-$year, $6\%$ annual pay, bond with the same liquidity and risk as the benchmark spot rates. The face value of the bond is $100.$ Calculate the arbitrage$-$free value of the bond given the following spot rate curve: S$1=3\mathrm{.}25\%,$ S$2=3\mathrm{.}75\%,$ and S$3=4\%.$

You have been asked to value a three$-$year, $6\%$ annual pay, bond with the same liquidity and risk as the benchmark spot rates. The face value of the bond is $100.$ Calculate the arbitrage$-$free value of the bond given the following spot rate curve: S$1=3\mathrm{.}25\%,$ S$2=3\mathrm{.}75\%,$ and S$3=4\%.$

$105\mathrm{.}62$

$108\mathrm{.}63$

$110\mathrm{.}96$

$98\mathrm{.}57$