Assume that the term structure of U.S. Treasury securities includes the following rates:

Security	Annual Yield (%)
3-month bill	4.50
6-month bill	4.57
1-year bill	4.52
2-year note	4.51
3-year note	4.48

Using this information, calculate:

(a) The six-month annualized yield expected in the second half of the current year,

(b) The one-year expected for year 3.