You are a bond trader and trying to calculate the yield on todays 3-year US Treasury. The current yield on the 1-year Treasury is 2.2%, and markets expect that the yield on the 1-year Treasury, in the next two years will be respectively 3.2% and 4.8%. If investors demand a 2-percentage point term premium for holding 3-year Treasuries, what is the yield on the current 3-year Treasury?

7.39

6.39

5.39

4.39