Determine the values for annual spot rates of 4%, 4.5%, 5%, 5.5%, 6%, 6.5%, 7%, 7.5%, and 8%. Assume the applicable binomial interest rate tree for the bonds has the following features: length of the tree = .5 years, and upward and downward parameters for .5 years of u =

1.1, d = .9091, and q = .5. Comment on the differences between the two bonds price-yield curves.