Suppose the yield on a 10-year-bond is currently 5.05% and that on a 10-year Treasury Inflation Protected Security (TIPS) is 2.85%. Suppose further that the MRP on a 10-year T-bond is 0.90% that no MRP is required on a TIPS and that no liquidity premium is required on any T-bond. Given this information, what is expected rate of inflation over the next 10 years? Disregard cross-product terms, i.e., if averaging is required, use the same arithmetic average.