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The Wall Street Journal reports that the rate on 4 - year Treasury securities is 1 . 7 0 percent and the rate on 5

The Wall Street Journal reports that the rate on 4-year Treasury securities is 1.70 percent and the rate on 5-year Treasury securities is 2.25 percent. According to the unbiased expectations theories, what does the market expect the 1-year Treasury rate to be four years from today, E(5r1)?(Do not round intermediate calculations. Round your answer to 2 decimal places.)

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