What is the implied nominal interest rate on a 10-year U.S. T-notes ($100,000) futures contract that settled at 100'16 (or 100-160)?Assume a 6% semiannual coupon. Round your answer to two decimal places. ________%b. If interest rates increased by 1%, what would be the contract's new value? Use rounded rates from the previous question in your calculations. Round your answer to two decimal places. $_______