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A bond has a maturity of 2 years and a coupon of 4.12%. The price is 100.20. The six month Tbill rate is 3.84%. The

A bond has a maturity of 2 years and a coupon of 4.12%. The price is 100.20. The six month Tbill rate is 3.84%. The rate for discounting a 1.5 year zero is 3.86%. The 2 year spot rate is 4.02%. What is the one year spot rate? Report your answer in percent to the nearest basis point.

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