Assume the current interest rate on a 1-year Treasury bond (1R1) is 6.50 percent, the current rate on a 2-year Treasury bond (1R2) is 7.25 percent, and the current rate on a 3-year Treasury bond |(1R3) is 8.50 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, 3f1? (Do not round intermediate calculations. Round your answer to 2 decimal places.) 6.50% R, ,R ,R 7.25% 8.50% Complete the following analysis. Do not hard code values in your calculations. ef 3f1