Based on economists$$ forecasts and analysis, $1-$year Treasury bill rates and liquidity premiums for the next four years are expected to be as follows:

R$1=7\mathrm{.}00\%$

E$(2$r$1)=8\mathrm{.}10\%$ L$2=0\mathrm{.}45\%$

E$(3$r$1)=8\mathrm{.}20\%$ L$3=0\mathrm{.}55\%$

E$(4$r$1)=8\mathrm{.}50\%$ L$4=0\mathrm{.}60\%$