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

R1 = 5.25%

E(r2) = 6.35% L2 = .05%

E(r3) = 6.55% L3 = .08%

E(r4) = 6.75% L4 = .10%

Using the liquidity premium hypothesis, what is the current rate on a four-year Treasury security?