S of 20 (3 completely In mid-2009. Ralston Purina had AA rated six-year bonds outstanding with a yield to maturity of 4 48%. At the time, similar maturity Treasuries had a yield of 3% a. If Ralston Purina's bonds were risk-free, what is your estimate of the expected return for these bonds? b. If you believe Ralston Purina's bonds have 0.8% chance of default per year and that expected low rate in the event of default is 35% what is your estimate of the expected return for th a. It Ralston Purina's bonds were risk-free, what is your estimate of the expected retum for these bonds? The estimate of the expected setur for these bonds is E (Round to two decimal places) call you believe Ralston Purina's bonds have 8% chance of detailt per year, and that expected loss rate in the event of default is 35 what is your estimate of the expected return for the The estimated expected return for these bonds will be % (Round to two decimal places)