Yield to maturities, par values and market prices for government securities (with annual interests) are given in the following table: Maturity (Years) Yield to maturity Par Value (K) Market Price (K) 1 3% 100 101.25 2 4% 100 103.50 3 5% 100 104.25 Assuming that the yields to maturities are equal to the coupon rates, calculate the one year, two year and three year spot rates.