Suppose we observe the three-year Treasury security rate (1R3) to be 5.4 percent, the expected one-year rate next year-E(211)to be 6.1 percent, and the expected one-year rate the following yearE(3r1)to be 6.7 percent. If the unbiased expectations theory of the term structure of interest rates holds, what is the one-year Treasury security rate? (Do not round intermediate calculations. Round your answer to 2 decimal places. (e.g., 32.16)) One-year Treasury security rate %