You observe the yields of the following Treasury securities (all yields are on a bond equivalent basis) as shown in Table 1. All the securities maturing from 1.5 years on are selling at par. The 0.5 and 1.0-year securities are zero-coupon instruments. Answer the below questions Table 1 Year (Period) Yield to Maturity (%) Spot Rate (%) 0.5 (1) 5.25 5.25 1.0 (2) 5.50 5.50 1.5 (3) 5.75 722 2.0 (4) 6.00 777 2.5 (5) 6.25 ??? 3.0 (6) 6.50 272 a. Calculate the missing spot rate. (10 points) b. What is the six-month forward rate starting in the 2.5 year? (2.5 points) c. What is the two-year forward rate starting in year 1? (2.5 points)