Suppose that the yield on a two-year Treasury security is 5.84%, and the yield on a five - year Treasury security is 6.38%. Assuming that the pure expectation theory is correct, what is the market's estimate of three-year Treasury rate two years from now? The error margin will allow either arithmetic or geometric averaging on this question.

Your answer should be between 5.58 and 7.98 with no special characters. 2 decimal places are necessary for a correct answer.