Assume the current interest rate on a 1-year Treasury bond (1R1) is 6.20 percent, the current rate on a 2-year Treasury bond (1R2) is 6.95 percent, and the current rate on a 3-year Treasury bond (1R3) is 8.20 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.