If the interest rate observed in the current market for the 4-year maturity is 5%, the interest rate for the 2-year maturity is 3%, and the interest rate for the 3-year maturity is 4%, what should be the 1-year interest rate after 2 years under the expectation hypothesis?

A. 3.50%

B. 6.03%

C. 8.06%

D. 4.50%