22. Suppose the real risk-free rate is 4.0%, the average expected future inflation rate is 3.20%, and a maturity risk premium of 0.10% per year to maturity applies, i.e., MRP = 0.10%(t), where t is the number of years to maturity, hence the pure expectations theory is NOT valid. What rate of return would you expect on a 5-year Treasury security? Disregard cross-product terms, i.e., if averaging is required, use the arithmetic average a) 7.4% b) 7.0% c) 7.2% d) 7.7% e) 7.6%