You observe that the inflation rate in the United States is 2.3 percent per year and that T-bills currently yield 2.8 percent annually.

a.	What do you estimate the inflation rate to be in Australia, if short-term Australian government securities yield 8 percent per year? (Round your answer to 1 decimal place. (e.g., 32.1))

Inflation rate

%

b.	What do you estimate the inflation rate to be in Canada, if short-term Canadian government securities yield 11 percent per year? (Round your answer to 1 decimal place. (e.g., 32.1))

Inflation rate

%

c.	What do you estimate the inflation rate to be in Taiwan, if short-term Taiwanese government securities yield 13 percent per year? (Round your answer to 1 decimal place. (e.g., 32.1))

Inflation rate

%