You are considering an investment in 30-year bonds issued by a corporation. The bonds have no special covenants. The Wall Street Journal reports that 1-year T-bills are currently earning 5.40 percent. Your broker has determined the following information about economic activity and the corporation bonds: Real interest rate = 4.95% Default risk premium = 4.15% Liquidity risk premium = 1.20% Maturity risk premium = 3.90% What is the inflation premium? What is the fair interest rate on the corporation's 30-year bonds?