3(a). Suppose you believe that the unbiased expectation theory (UET) holds. Then, using the hypothetical yield curve depicted below finds all the implicit forward rates. Spot Rates (or Zero-rates) Maturity 6 month 1 year 1.5 year 2 year 2.5 year 3 year Spot Rate 2.0% 2.1% 2.5% 2.8% 3.6% 3.85% 3(b). Now suppose that the researchers believe that liquidity premium for 6 month, 1 year and 1.5 year bonds are zero; for 2-year and 2.5-year treasury bonds are 0.075% and 0.12%; and for 3-year and 3.5-year bonds are .15% and .18%. What are the values of the forward rates? 3(a). Suppose you believe that the unbiased expectation theory (UET) holds. Then, using the hypothetical yield curve depicted below finds all the implicit forward rates. Spot Rates (or Zero-rates) Maturity 6 month 1 year 1.5 year 2 year 2.5 year 3 year Spot Rate 2.0% 2.1% 2.5% 2.8% 3.6% 3.85% 3(b). Now suppose that the researchers believe that liquidity premium for 6 month, 1 year and 1.5 year bonds are zero; for 2-year and 2.5-year treasury bonds are 0.075% and 0.12%; and for 3-year and 3.5-year bonds are .15% and .18%. What are the values of the forward rates