In August 2021, the 12-month rate of PCE (Personal Consumer Expenditure - the Fed's preferred inflaiton measure) inflation rose to 4.30%. On October 1, the yield on a 3-month T Bill was 0.043% while the yield on the US Treasury 10-year bond was 1.465%. Based on this information, please mark the only INCORRECT statement about the effect of inflation on real returns on investments.

	a.	The real interest rate on a 3-month T Bill was -4.257%
	b.	A savvy investor should compare the inflation-adjusted (or real) and risk-adjusted returns on bonds and equities
	c.	A risk averse investor will always prefer the safety of a Treasury bond because, unlike risky stocks, he will never lose money on Treasuries
	d.	The real interest rate on a US Treasury 10 year bond was -2.835%