Cullumber needs to borrow $4 million for an upgrade to its headquarters and manufacturing facility. Management has decided to borrow using a five-year term loan from its existing commercial bank. The prime rate is 4 percent, and Cullumbers current rating is prime + 2.57 percent. The yield on a five-year U.S. Treasury note is 1.91 percent, and the three-month U.S. Treasury bill rate is 0.12 percent. What is the estimated loan rate for the five-year bank loan?