Assume that today, the annualized two$-$year interest rate is $15\%,$ and the one$-$year interest rate is $10\%.$ A three$-$year security has an annualized interest rate of

$16\%.$ What is the one$-$year forward rate two years from now?

a$.29\mathrm{.}00\%$

b$.23\mathrm{.}39\%$

c$.18\mathrm{.}03\%$

d$.25\mathrm{.}69\%$