Suppose we observe the three-year Treasury security rate (1R3) to be 4.8 percent, the expected one-year fate next year- E(2r1) to be 5.2 percent, and the expected one-year rate the following year-E(3F1) -to be 59 percent. If the unblased expectationts theory of the term structure of interest rates holds, what is the one-year Treasury secunty rate? (Do not round intermediate calculations. Round your percentage answer to 2 decimal places. (e.g., 32.16))