Suppose that the current $1-$year rate $(1-$year spot rate$)$ and

expected $1-$year T$-$bill rates over the following three years $($i$.$e$.,$

years $2,3,$ and $4,$ respectively$)$ are as follows:

$$

$1$R$1=6\%,$

$$E$(2$r$1)=7\%$

E$(3$r$1)=7\mathrm{.}5\%$

E$(4$r$1)=7\mathrm{.}85\%$

$7\mathrm{.}75\%$

Using the unbiased expectations theory, calculate the current

$($long$-$term$)$ rates for one$-,$ two$-,$ three$-,$ and four$-$year$-$maturity

Treasury securities$.$