Figure 14.3 corporate Bond Yields: Bond Yields by Bond Rating and Term to Maturity dr2016 and are typical for this time period. However, you wou did want to thaturity. These data are representative of the first quarter dot financing. Note that as the creclt rating falls, the yield to matid want to use the most recent data avallable when anabying the oost of ingtuily bonds. Leyorm These data are actually reported as spread to Troasury yeids, so for a 30 year Bea1/B88+-raled corporate bond, the yold would be reported as 204 basis points over the 30 year Treasury yold of 2.76%. A basis point is 1/100 th of a percont, 80204 basis. points correspond to 2.04%. The return provided by Treasury bonds is considered as risk-free return and provides a basis to compare the return offered by corporate bonds. Refer to Figure 14.3, which shows yields to maturity for corporate bonds for different maturities and default ratings. Calculate the spread to Treasury for a BBB-rated bond for two years and for seven years. Why do the bonds with same credit rating offer different spread to Treasury for different periods