19. The yield to maturity on otherwise identical option-free bonds issued by the U.S.
Treasury and a large industrial corporation is 6 percent and 8 percent,
respectively. If annual inflation is expected to remain steady at 2.5 percent over
the life of the bonds, the most likely explanation for the difference in yields is a
premium due to:
A. maturity.
B. inflation.
C. default risk.
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