Permian Commercial Bank wants to borrow $50 million for a period of three years, starting one year from today, because it anticipates lending to a company that will begin constructing a gas processing plant one year from today. The banks CFO proposes that the bank borrow by means of buying and selling zeros, in effect, creating a synthetic loan by which it can borrow. Assume that the one-year zero rate is 3.3%, the two-year zero rate is 4.07%, the three-year zero rate is 4.24%, and the four-year zero rate is 5.03%. All rates are annualized and continuously compounded. At what rate will the bank be able to borrow if it follows the proposal of its CFO?

(Do not round values at intermediate steps in your calculations. Enter your answer in percent to two decimal places, but do not type the % symbol. For example, enter a solution of 12.34% as 12.34. Convert a decimal solution for an interest rate to a percent rate, e.g., if your decimal solution is 0.1234, then enter the solution as 12.34.)