Suppose the returns on long-term corporate bonds and T-bills are normally distributed (Figure 12.10). Use the NORMDIST function in Excel to answer the following questions. a. What is the probability that in any given year, the return on long-term corporate bonds will be greater than 10 percent? Less than 0 percent? (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) b. What is the probability that in any given year, the return on T-bills will be greater than 10 percent? Less than 0 percent? (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) C-1. In 1979, the return on long-term government bonds was -2.76 percent. How likely is it that such a low return will recur at some point in the future? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) C-2. T-bills had a return of 10.56 percent in this same year. How likely is it that such a high return on T-bills will recur at some point in the future? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Greater than 10 percent Less than 0 percent Greater than 10 percent Less than 0 percent C-1. Probability c-2. Probability FIGURE 12.10 Historical Returns, Standard Deviations, and Frequency Distributions: 1926-2016 Average Return Standard Deviation Frequency Distribution Series Large-company stocks 12.0% 19.9% Small-company stocks 16.6 31.9 JLU..... Long-term corporate bonds 6.3 8.4 6.0 9.9 Long-term government bonds 5.3 5.3 Intermediate-term government bonds 5.6 5.6 Us. Treasury bills U.S. Treasury bills 3.4 314 31 3.1 Inflation 3.0 4.1 The 1933 ml company stocks totalm was 142 percent