In? mid-2012, Ralston Purina had? AA-rated, 10-year bonds outstanding with a yield to maturity of 1.93 %1.93%. a. What is the highest expected return these bonds could? have? b. At the? time, similar maturity Treasuries had a yield of 0.93 %0.93%. Could these bonds actually have an expected return equal to your answer in part ?(a?)? c. If you believe Ralston? Purina's bonds have 0.9 %0.9% chance of default per? year, and that expected loss rate in the event of default is 58 %58%?, what is your estimate of the expected return for these? bonds?