In your role as a financial advisor you have been asked by one of your clients to provide an overview of some key market

statistics. From your past interactions, you know that this client$$s investment horizon is about $30$ years, and that he is willing to take a fairly aggressive risk posture. Use the attached market data to compute each of the

statistics indicated below. In addition to showing your calculations, explain why you chose the particular financial instrument and

maturity you did as input data for your calculation. $($When multiple data

alternatives are available, you will want to choose the one likely to be most relevant for this particular client.$)$

a$.$ Implied marginal $($break$-$even$)$ tax bracket $-$ calculation:

reason for input data choice

b$.$ Default risk premium for below investment grade bonds $-$ calculation:

reason for input data choice

Based on these data, what would you expect the rate of inflation to be over the next two years

if you believe all investors are risk neutral? Explain or show your calculations.