Problem $6-8$ Liquidity Premium Theory $($LG$6-7)$Based on economists forecasts and analysis, $1-$year Treasury bill rates and liquidity premiums for the next four years are expected to be as follows:R$1=0\mathrm{.}70\%$ E$($r$12)=1\mathrm{.}85\%$ L$2=0\mathrm{.}05\%$E$($r$13)=1\mathrm{.}95\%$ L$3=0\mathrm{.}10\%$E$($r$14)=2\mathrm{.}25\%$ L$4=0\mathrm{.}12\%$Using the liquidity premium theory, determine the current $($long$-$term$)$ rates.Note: Do not round intermediate calculations. Round your percentage answers to $2$ decimal places $($i$.$e$.,0\mathrm{.}1234$ should be entered as $12\mathrm{.}34).$