Assume the current interest rate on a 1-year Treasury bond (Ra) is 4.50 percent, the current on a 2-year Treasury bond (Ra) is 5.25 percent, and the current rate on a 3-year Treasury bond (Ra) is 6.50 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? (Round your answer to 2 decimal places.) Forward expect rate Book