3. suppose that today a U.S. Treasury bond with a one-year maturity currently yields 10%. You believe that one year from now, a one-year Treasury bond w om now, a one-year Treasury bond will yield 2.50%, and two years from now, a one-year Treasury bond will yield 2.75%. Required a. If the pure rate of interest is 1.50% and you consider one-year-maturity Treasury bonds to be risk free, what rate of inflation in the United States are investors anticipating for the coming year? b. According to the unbiased expectation hypothesis, what should be the interest rate today for a U.S. Treasury bond with a three-year maturity? c. A one-year municipal bond issued by the state in which you live currently yields 2.15%. If your income level places you in the 32% federal tax bracket and the 4% state tax bracket, which one-year bond would you prefer to invest in: the one-year U.S. Treasury bond or the municipal bond? (show your analysis)