The current yield curve for default-free zero-coupon bonds is asfollows: Maturity (years) YTM 1 10.2 % 2 11.2 3 12.2 a. What arethe implied one-year forward rates? (Do not round intermediatecalculations. Round your answers to 2 decimal places.) Maturity(years) YTM Forward Rate 1 10.2 % 2 11.2 % 3 12.2 % b. Assume thatthe pure expectations hypothesis of the term structure is correct.If market expectations are accurate, what will the pure yield curve(that is, the yields to maturity on one- and two-year zero-couponbonds) be next year? There will be a shift upwards in next year'scurve. There will be a shift downwards in next year's curve. Therewill be no change in next year's curve. c-1. If you purchase atwo-year zero-coupon bond now, what is the expected total rate ofreturn over the next year? (Hint: Compute the current and expectedfuture prices.) Ignore taxes. (Do not round intermediatecalculations. Round your answer to 2 decimal places.) Expectedtotal rate of return c-2. If you purchase a three-year zero-couponbond now, what is the expected total rate of return over the nextyear? (Hint: Compute the current and expected future prices.)Ignore taxes. (Do not round intermediate calculations. Round youranswer to 2 decimal places.) Expected total rate of return