You have estimated spot rates as follows: r1 = 6.70%, r2 = 7.10%, r3 = 7.40%, r4 = 7.60%, r5 = 7.70%. a. What are the discount factors for each date (that is, the present value of $1 paid in year 0? (Do not round intermediate calculations. Round your answers to 3 decimal places.) Year Discount Factors 1 2 3 4 5 b. Calculate the PV of the following $1,000 bonds assuming an annual coupon and maturity of: (1) 6.7%, two-year bond; (i) 6.7%, five- year bond; and (11) 11.7%, five-year bond. (Do not round intermediate calculations. Round your answers to 2 decimal places.) Present Value b- b-ii 6.70%, two-year bond 6.70%, five-year bond 11.70% five-vear bond b-111