Based on economists' forecasts and analysis, $1-$year Treasury bill rates and liquidity premiums for the next four years are expected to

be as follows:

$R_1,=1\mathrm{.}25\%,$

$E(2r_1),=2\mathrm{.}40\%,L_2=0\mathrm{.}04\%$

$E(3r_1),=2\mathrm{.}50\%,L_3=0\mathrm{.}08\%$

$E(4r_1),=2\mathrm{.}80\%,L_4=0\mathrm{.}10\%$

Using the liquidity premium theory, determine the current $($long$-$term$)$ rates. $($Do not round intermediate calculations. Round your

answers to $2$ decimal places.$)$