Suppose that the prices of zero-coupon bonds with various maturities are given in the following table. The face value of each bond is $1,000.

Maturity (Years)	Price
1	$	974.68
2		903.39
3		842.92
4		783.00
5		669.92

a. Calculate the forward rate of interest for each year. (Round your answers to 2 decimal places.)

b. How could you construct a 1-year forward loan beginning in year 3? (Round your Rate of synthetic loan answer to 2 decimal places.)

c. How could you construct a 1-year forward loan beginning in year 4? (Round your answers to 2 decimal places.)