You observe the following yield curve for Treasury securities:

Maturity	Yield
1 Year	4.6%
2 Years	4.8
3 Years	4.9
4 Years	4.8
5 Years	5.2

Assume that the expectations theory holds. What does the market expect the interest rate on 1- year securities to be four years from today?

a. 4.8%

b. 5.2%

c. 5.6%

d. 6.8%

e. 35.4%

Can you please show me the calculation for this? Thank you.