You check the spot curve and find that the 1-year spot rate is 9.48%, the 2-year spot rate is 7.19%, the 3-year spot rate is 7.86%,the 4-year spot rate is 6.23%, and the 5-year spot rate is 4.25%.

You believe in the liquidity preference theory and assume that there is a constant liquidity premium of 1.50%.

What is the 2-year short rate?

Your answer should be in percentage points to 2 decimal places (ex: 2.50).