A $30-$year $1/1$ ARM has an initial rate of $3\mathrm{.}90\%.$ In the future, the rate will reset to $280$ basis points above the $1$ year CMT with no rate caps. In $1$ year, at the time of the first reset, the $1$ year CMT is $1\%.$ What interest rate will be used to compute payments that follow the first reset? Write your answers as a percent rounded to two decimal points without any signs $($e$.$g$.$ if you get $4\mathrm{.}5699\%,$ write $4\mathrm{.}57)$