One-year Treasury bilis currently earn 2.35 percent, You expect that one year from now, l-year Treasury bill rates will increase to 2.55 percent and that two years from now, 1-year Treasury bill rates will increase to 3.05 percent. The liquidity premium on 2 -year securities is 0.05 percent and on 3 -year securities is 0.15 percent. If the liquidity premium 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.)