问题如下：
Hsu also selects the two floating-rate bonds issued by Varlep, plc given in the table below. These bonds have a maturity of three years and the same credit rating.
To value Varlep’s bonds, Hsu constructs the binomial interest rate tree provided in the exhibit below:
The value of Bond #7 is to:
选项：
A.99.697% of par.
B.99.936% of par.
C.101.153% of par.
解释：
A is correct.
考点：利用二叉树模型对浮动利率债券进行估值
解析：
注意因为Bond 7具有利率顶（Capped at 5.00%）,所以高于5的coupon是取不到了，因此高于5的Coupon需要调整到5。如下图红色所示：
请问Y=1，HH和HL的计算公式是什么？计算现金流的coupon应该是什么？，
我的算法是0.5*(98.714+99.9912+4.5+4.5)/(1+4.5027%)
