The yield to maturity on one-year zero coupon bonds is 6.08%. The yield to maturity on two-year zero coupon bonds is 774% Required: a. What is the forward rate of interest for the second year? (Do not round Intermediate calculations. Round your answer to 2 decimal places.) Forward rate 9 b. According to the expectations hypothesis, what is the expected value of the one year interest rate for next year? (Do not round Intermediate calculations. Round your answer to 2 decimal places.) Expected value