Sandino Corporation's 10-year, semiannual bond is currently selling at $850, with a coupon rate of 5% and a nominal rate (YTM) of 7.12%. Given an annual maturity risk premium (MRP) of (t-1) "0.10%, the band's liquidity premium (LP) of 0.40% and default risk premium (DRP) of 3.10%, what is the risk-free (res) rate? Your answer should be between 1.80 and 3.58, rounded to 2 decimal places, with no special characters