1. According to the Unbiased Expectation Theory, the first year's one year interest rate is R 1=1.94%,and the expected one year rates for the following years are as follows, respectively. El zT )=3%, El gt 1)-3.74% and E( 4 )=4.4%. The four year interest rate (given they are all default-risk free treasury securities), the four-year T Security interest rate is (annually) R =?%