You observe that the inflation rate in the United States is 3.5 percent per year and that T-bills currently yield 4.1 percent annually. Using the approximate international Fisher effect, what do you estimate the inflation rate to be in:

a. Australia, if short-term Australian government securities yield 4 percent per year?

b. Canada, if short-term Canadian government securities yield 7 percent per year?

c. Taiwan, if short-term Taiwanese government securities yield 9 percent per year?