One-year Treasury bills currently earn 3.35 percent. You expect that one year from now, 1-year Treasury bill rates will increase to 3.55 percent. The liquidity premium on 2-year securities is 0.08 percent. If the liquidity premium theory is correct, what should the current rate be on 2-year Treasury securities? Note: Do not round intermediate calculations. Round your percentage answer to 2 decimal places (i.e., 0.1234 should be entered as 12.34).

Current rates ? %