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The Wall Street Journal reports that the rate on three-year Treasury securities is 2.38 percent and the rate on four-year Treasury securities is 2.57 percent.

The Wall Street Journal reports that the rate on three-year Treasury securities is 2.38 percent and the rate on four-year Treasury securities is 2.57 percent. The one-year interest rate expected in three years, E(4r1), is 2.99 percent. According to the liquidity premium hypotheses, what is the liquidity premium on the four-year Treasury security, L4?

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