What nominal rate would Apex Corporation need to pay on a three year bond if the pure rate is 1.75%, maturity risk premium is 3%, default risk premium is 2.5%, the expected rate of inflation is 2%, 4% and 9% during each of the next three years, and liquidity risk premium is 1.0?

	a.	10.25%
	b.	13.25%
	c.	12.25%
	d.	17.25%