The following table shows the yield to maturity (YTM) of various types of bonds on March 15, 2022.

The YTM of a 3-month T-bill is 0.46%.

a. What is the expected yield of a three-year Treasury two years from the date above according to the pure expectations theory?

b. What is the risk premium of a 5-year T-note?

c. What explains the 0.428% difference in YTM between a 5-year U.S. Treasury and a 5-year AAA corporate bond?

2-year 5-year 10-year U.S. Treasury Corp. AAA 1.852% 2.117% 2.107% 2.535% 2.146% 2.942% Corp. AA 2.216% 2.704% 3.159%