One$-$year Treasury bills currently earn $3\mathrm{.}25$ percent. You expect that one year from now, $1-$year Treasury bill rates will increase to $3\mathrm{.}45$ percent and that two years from now, $1-$year Treasury bill rates will increase to $3\mathrm{.}95$ percent. The liquidity premium on $2-$year securities is $0\mathrm{.}10$ percent and on $3-$year securities is $0\mathrm{.}20$ percent. If the liquidity premium theory is correct, what should the current rate be on $3-$year Treasury securities$?($Do not round intermediate calculations. Round your answer to $2$ decimal places.$)$