27.

Assume that interest rates on 20-year Treasury and corporate bonds are as follows: T-bond = 7.72% AAA = 8.72% A = 9.64% BBB = 10.18% The differences in these rates were probably caused primarily by: O a. Maturity risk differences. O b. Default and liquidity risk differences, O c. Tax effects O d. Inflation differences. O e. Real risk-free rate differences