Assume the current interest rate on a 1-year Treasury bond (181) is 5.40 percent, the current rate on a 2-year Treasury bond (R2) is 6.15 percent, and the current rate on a 3-year Treasury bond (Rg) is 7.40 percent. If the unbiased expectations theory of the term structure of interest rates is correct, what is the 1-year forward rate expected on Treasury bills during year 3. 3+1? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Expected forward rate %