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Suppose that the current three - year rate ( three - year spot rate ) and expected one - year T - bill rates over

Suppose that the current three-year rate (three-year spot rate) and expected one-year T-bill rates over the following years are as follows:
1R3=12%, E(2r1)=8%, E(3r1)=10%
What should be the current spot rate for one-year treasury bill?
Group of answer choices
5.59%
18.80%
9.00%
9.99%
18.26%

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