Question 8 Suppose that the current one-year rate and expected one-year T-bill rates over the following three years (i.e, years 2, 3, and 4, respectively) are as follows: 1R1 = 1.3%, E(2rl) =3.06%, E(3rl) = 6.99%, E(4rl) = 7.7% Using the unbiased expectations theory, calculate the current (long-term) rates for four-year-maturity Treasury securities (Write your answer in percentage and round it to 2 decimal places)