One-year Treasury bills currently earn 2.15 percent. You expect that one year from now, one-year Treasury bill rates will increase to 2.65 percent and that two years from now, one-year Treasury bill rates will increase to 3.05 percent. The liquidity premium on two-year securities is 0.05 percent and three-year securities is 0.15 percent. If the liquidity premium theory is correct, what should the current rate be on three-year Treasury securities? (Do not round intermediate steps. Round final answer to 2 decimal places. Do not include any unit.) Please provide the formula and calculations.