Suppose that the current one-year rate, one-year spot rate, and the expected one-yearT-bill rates over the following three years (i.e. years 2, 3, and 4, respectively) are as follows:

₁R₁= 6% E₂r₁= 7% E₃r₁= 7.5% E₄r₁= 7.85%

Using the Unbiased Expectations Theory, calculate the current (long-term) rates for one-, two-, three- and four-year maturity Treasury securities.

₁R₁=

₂R₁=

₃R₁=

₄R₁=