What Is The Expected Semi Annual Par In 2 Quarters From Now (1)

what is the expected semi-annual par in 2 quarters from now? 

quarterly coupon rate of 8%; quarterly spot rates R1 = 8%, R2 = 10%, R3 = 12%, and R4 = 16%. 

The answer is 22.70%, and I can’t seem to get that answer… Help! 

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