The Wall Street Journal reports that the rate on 4-year Treasury securities is 6.15 percent and the rate on 5-year Treasury securities is 6.50 percent. The 1-year risk-free rate expected in four years is, E(₅r₁), is 7.10 percent. According to the liquidity premium hypotheses, what is the liquidity premium on the 5-year Treasury security, L₅? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Liquity Premium = ____________%