The real rate of interest has been estimated to be 4 percent, and the expected long-term annual inflation rate is 7 percent. Round your answers to the nearest whole number and include excel calculations.

a. What is the current risk-free rate of return on 1-year Treasury bonds?

b. If the yield on 10-year U.S. Treasury bonds is 13 percent, what is the maturity risk premium between a 10-year bond and a 1-year bond? %

c. If Delta bonds, scheduled to mature in 10 years, currently sell to yield 15 percent, what is the default risk premium on these bonds? %

d. If investors in the common stock of Delta require a 16 percent rate of return, what is the seniority risk premium on Deltas common stock? %