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Suppose that the current 1-year rate (1-year spot rate) and expected 1-year T-bill rates over the following three years (le years 23. and 4. respectively)

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Suppose that the current 1-year rate (1-year spot rate) and expected 1-year T-bill rates over the following three years (le years 23. and 4. respectively) are as follows: 1R1 = 6%, El2ra) = 7% Elgru) = 75%, Elar) = 7.85% Using the unbiased expectations theory, calculate the current (long-term) rates for one, two, threes, and four-year-maturity Treasury securities (Round your answers to 2 decimal places.) Years Current (Long-term) Rates % 1 2 % 3 4 90

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