Assume the following: . three-year Treasury security rate to be 12 percent the expected one-year rate next year - E(2r1) - to be 8 percent the expected one year rate the following year - E(3r1) - to be 11.054 percent If the unbiased expectation theory of term structure of interest rates holds, what is the one-year Treasury security rate?

Assume the following: - three-year Treasury security rate to be 12 percent - the expected one-year rate next year - E(2r1) - to be 8 percent - the expected one year rate the following year- E(3r1) - to be 11.054 percent If the unbiased expectation theory of term structure of interest rates holds, what is the one-year Treasury security rate