In mid-2012, Ralston Purina had AA-rated, 10-year bonds outstanding with a yield to maturity of 2.04%. a. What is the highest expected return these bonds could have? b. At the time, similar maturity Treasuries had a yield of 2.00%. Could these bonds actually have an expected return equal to your answer in part bonds? a. What is the highest expected return these bonds could have? The highest expected return these bonds could have is %. (Round to two decimal places.) A. No, if the bonds are risk-free, the expected return equals the risk-free rate, and if they are not risk-free the expected return is B. Yes, if the bonds are risky enough, that is if the probability of default is high enough. C. Yes, the yield to maturity is the maximum expected return you can expect. D. Yes, because the reasons given in both A. and B. are true. bonds? The estimated expected return for these bonds will be %. (Round to two decimal places.)