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A one-year Treasury bill offers a 5% yield to maturity. The market's concensus forecast is that one-year T-bills will offer 4% next year. What is

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A one-year Treasury bill offers a 5% yield to maturity. The market's concensus forecast is that one-year T-bills will offer 4% next year. What is the current yield on a two-year T-bill if the expectations hypothesis holds? Enter your answer as a percentage. Do not include the percentage sign in your answer. Enter your response below. Enter your answer rounded to 2 DECIMAL PLACES

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