The following table lists the expected one-year rates over the next 4 years. Liquidity premiums for 2-year, 3-year, and 4-year bonds are 0.3%, 0.7% and 1.3% respectively. Year 1 Year 2 Year 3 Year 4 Expected one-year rate 1.5% 2% 1.8% 1.6% (a) According to expectations theory, what should the yield on a 3-year bond be (with arithmetic average)? (b) How does the answer differ if liquidity premium theory holds (with arithmetic average