You are considering an investment in $20-$year bonds issued by Moore Corporation. The bonds have no special covenants. The Wall Street Journal reports that $1-$year T$-$bills are currently earning $0\mathrm{.}50$ percent. Your broker has determined the following information about economic activity and Moore Corporation bonds:Real risk$-$free rateDefault risk premiumLiquidity risk premiumMaturity risk premium$=0\mathrm{.}41\%=1\mathrm{.}05\%=0\mathrm{.}90\%=0\mathrm{.}75\%$a$.$ What is the inflation premium?b$.$ What is the fair interest rate on Moore Corporation $20-$year bonds?