Consider the following economy where you can only trade these securities: Google Stock trading at $55

Put option on Google that expires in one year, with a strike price of $45, and costs $5 Call option on Google that expires in one year, with a strike price of $45, and costs $18 A Two-year zero-coupon bond with YTM of 6%

If the expectations hypothesis holds, then what is the market's expectation of the one-year spot rate one year from today?

There is no arbitrage in this economy.

Group of answer choices

6.47%

4.87%

7.14%

5.61%

8.11%