Suppose we observe the three-year Treasury security rate (1R3) to be 4.6 percent, the expected one-year rate next year-E(2ri) to be 5.2 percent, and the expected one-year rate the following year- F(3r1) to be 6.2 percent. If the unblased 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 percentage answer to 2 decimal places. (e.g.32.16))