The real risk$-$free rate is $2\mathrm{.}35\%.$ Inflation is expected to be $3\mathrm{.}35\%$ this year, $4\mathrm{.}95\%$ next year, and $2\mathrm{.}4\%$ thereafter. The maturity risk premium is estimated to be

$-1,$ 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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