3. Consider the following bargaining game in which two players are trying to share a cake of size 1. Player 1 offers 1 [0, 1]and player 2 either accepts (Y) of rejects (N): If player 2 accepts player 1 receives a payoff of x₁ and player 2 receives 1-1. If player 2 rejects, then player 2 moves again to offer x2 € [0,1] to which player 1 responds by either accepting (Y) or rejecting (N): If player 1 accepts player 1 and 2's payoffs are 8 (12) and 8x2 respectively, where 8 (0,1) is the common discount factor for the players. If player 1 rejects the offer then an arbitrator terminates the bargaining process and gives player 1 a share y and player 2 the rest which, because of discounting, players value as 6²y and 82 (1 - y). Find the SPE of this game.