Assume the current interest rate on a one-year Treasury bond (1R1) is 2.45 percent, the current rate on a two-year Treasury bond (1R2) is 2.61 percent, and the current rate on a three-year Treasury bond (1R3) is 2.72 percent. If the unbiased expectations theory of the term structure of interest rates is correct, what is the one-year interest rate expected on T-bills during year 3 (E(31) or 3f1)? (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16)) Interest rate expected during year 3 %