Assume the current interest rate on a 1-year Treasury bond (R11) is 5.60 percent, the current rate on a 2-year Treasury bond (R21) is 6.35 percent, and the current rate on a 3-year Treasury bond (R31) is 7.60 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, f13 ? Note: Do not round intermediate calculations. Round your percentage answer to 2 decimal places (i.e., 0.1234 should be entered as 12.34)