Suppose we observe the 3 year Treasury security rate (1R1) to be 6 percent, the expected fyear rate next year-r(zir) t0 be 4 percent and the expected lyear rate the following year-rijr ) - to be 4 percent. If the unblased expectations theory of the tenm structure of interest rates holds, what is the 1 -year Treasury security rate, 1n1 ? (Round your answer to 2 decimat places.)