Suppose $we$ observe the following rates: $R11=12\mathrm{.}0\%,R21=14\mathrm{.}0\%,$

and $E(r12)=16\mathrm{.}0\%.$

$If$ the liquidity premium theory $of$ the term structure $of$ interest rates holds, what $is$ the liquidity premium for year $2?$

Note: Round your intermediate calculations $to5$ decimal places and final percentage answer $to2$ decim