Based on economists' forecasts and analysis, 1-year Treasury bill rates and liquidity premiums for the next four years are expected to be as follows:

R₁=1.10%

E(₂r₁) = 2.25% L₂= 0.07%

E(₃r₁) = 2.35% L₃= 0.10%

E(₄r₁) = 2.65% L₄= 0.12%

Using the liquidity premium theory, determine the current (long-term) rates.(Do not round intermediate calculations. Round your answers to 2 decimal places.)

Year 1=

Year 2=

Year 3=

Year 4=