Forecasting Interest Rates On May 23, 20XX, the existing or current (spot) one-year, two-year, three-year, and four-year zero-coupon Treasury security rates were as follows:

1R1 = 5.85%,

1R2 = 6.35%, 1R3 = 6.85%,

1R4 = 7.05%

Using the unbiased expectations theory, what is the one-year forward rate on zero-coupon Treasury bonds for year four as of May 23, 20XX

O 6.525%

O 7.65%

O 7.05%

O 24.07%