Suppose the yield on a 10-year T-bond is currently 5.50% and that on a 10 -year Treasury Inflation Protected Security (TIPS) is 2.75%. Suppose further that the MRP on a 10 -year T-bond is 0.80%, that no MRP is required on a TIPS, and that no liquidity premium is required on any T-bond. Given this information, what is the expected rate of inflation over the next 10 years? Disregard cross-product terms, i.e., if averaging is required, use the arithmetic average. Round all answers out two decimal places