One year Treasury bills currently earn 2 90 percent. You expected that one year from now, 1 year Treasury bill rates will increase to 3.40 percent and that two years from now, 1 year Treasury bill rates will increase to 3.80 percent. If the unblased expectations theory is correct, what should the current rate be on 3-year Treasury securities? (Do not round intermediate calculations. Round your answer to 2 decimal places.)