The yield curve for default-free zero-coupon bonds is currently as follows: Maturity (years) 1 2 3 WNP YTM 10.4% 11.4 12.4 Required: a. What are the implied one-year forward rates? (Do not round intermediate calculations. Round your answers to 2 decimal places.) Answer is complete and correct. YTM Forward rate Maturity (years) 1 10.4% 2 11.4% 12.41 3 12.4% 14.43 % c. What will be the yield to maturity on two-year zeros? (Do not round intermediate calculations. Round your answers to 2 decimal places.) Answer is not complete. YTM % d. If you purchase a two-year zero-coupon bond now, what is the expected total rate of return over the next year? (Hint Compute the current and expected future prices.) Ignore taxes. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Answer is not complete. Expected total rate of return % e. If you purchase a three-year zero-coupon bond now, what is the expected total rate of return over the next year? (Hint: Compute the current and expected future prices.) Ignore taxes. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Expected total rate of return % The yield curve for default-free zero-coupon bonds is currently as follows: Maturity (years) 1 2 3 WNP YTM 10.4% 11.4 12.4 Required: a. What are the implied one-year forward rates? (Do not round intermediate calculations. Round your answers to 2 decimal places.) Answer is complete and correct. YTM Forward rate Maturity (years) 1 10.4% 2 11.4% 12.41 3 12.4% 14.43 % c. What will be the yield to maturity on two-year zeros? (Do not round intermediate calculations. Round your answers to 2 decimal places.) Answer is not complete. YTM % d. If you purchase a two-year zero-coupon bond now, what is the expected total rate of return over the next year? (Hint Compute the current and expected future prices.) Ignore taxes. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Answer is not complete. Expected total rate of return % e. If you purchase a three-year zero-coupon bond now, what is the expected total rate of return over the next year? (Hint: Compute the current and expected future prices.) Ignore taxes. (Do not round intermediate calculations. Round your answer to 2 decimal places.) Expected total rate of return %