A 5-year Treasury bond has a 3.25% yield. A 10-year Treasury bond yields 6.5%, and a 10-year corporate bond yields 9.55%. The market expects that inflation will average 3.45% over the next 10 years (IP0 - 3.45%). Assume that there is no maturity risk premium (MRP = 0) and that the annual real risk-free rate, will remain constant over the next 10 years. (Hint: Remember that the default risk premium and the liquidity premium are zero for Treasury securities: DRP = LP -0.) A 5-year corporate bond has the same default risk premium and liquidity premium as the 10-year corporate bond described. What is the yield on this 5-year corporate bond? Round your answer to two decimal places