Problem 6-25 Unbiased Expectations Theory (LG6-7) Suppose we observe the 3-year Treasury security rate (1R3) to be 6 percent, the expected 1-year rate next year-E(2r1)to be 4 percent, and the expected 1-year rate the following year-E(3r1)-to be 4 percent. If the unbiased expectations theory of the term structure of interest rates holds, what is the 1-year Treasury security rate, 1R1? (Round your answer to 2 decimal places.) Treasury security rate %