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

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Based on economists' forecasts and analysis, one-year Treasury bill rates and liquidity premiums for the next four years are expected to be as follows: = = 0.05% 1R1 E(2ri) E(3r1) E(4ri) 0.50% 0.77% L2 0.87% L3 1.17% L4 = = 0.16% = 0.19% = Calculate the yield to maturity for four years. (Round your percentage answers to 2 decimal places. (e.g., 32.16)) Yield To Maturity 0.50% Year 1 Year 2 % Year 3 % Year 4 %

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