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 0.30 percent. Your broker has determined the following information about economic activity and Moore Corporation bonds:

Real risk-free rate	=	0.21%
Default risk premium	=	1.15%
Liquidity risk premium	=	0.80%
Maturity risk premium	=	0.75%

a. What is the inflation premium? b. What is the fair interest rate on Moore Corporation 30-year bonds? (For all requirements, round your answers to 2 decimal places. (e.g., 32.16))

a.	Inflation premium		%
b.	Fair interest rate		%