The real risk$-$free rate is $1\mathrm{.}75\%.$ Inflation is expected to be $2\mathrm{.}75\%$ this year, $4\mathrm{.}85\%$ next year, and $2\mathrm{.}5\%$ thereafter. The maturity risk premium is estimated to be $0\mathrm{.}05(t1)\%,$ where $t=$ number of years to maturity. What is the yield on a $7-$year Treasury note? Do not round intermediate calculations. Round your answer to two decimal places.

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