Under the Liquidity Premium Theory, if today's one year spot rate is $2\%,$ the forward one$-$year rate in one year is $3\%,$ the forward one$-$year rate in two years is $5\%,$ the forward one$-$year rate in three years is $6\%,$ and the liquidity premium on a $4-$year bond is $0\mathrm{.}50\%,$ today's $4-$year spot rate would be