Forward Rate. a$.$ Assume that as of today, the annualized two$-$year interest rate is $11$ percent, while the one$-$year interest rate is $10$ percent. Use this information to estimate the one$-$year forward rate.

b$.$ Assume that the liquidity premium on a two$-$year security is $0\mathrm{.}3$ percent. Use this information to estimate the one$-$year forward rate.