Question: One - year Treasury bills currently earn 3 . 6 0 percent. You expect that one year from now, 1 - year Treasury bill rates

One-year Treasury bills currently earn 3.60 percent. You expect that one year from now, 1-year Treasury bill rates will increase to 3.80 percent. The liquidity premium on 2-year securities is 0.05 percent. If the liquidity premium theory is correct, what should the current rate be on 2-year Treasury securities?
Note: Do not round intermediate calculations. Round your percentage answer to 2 decimal places (i.e.,0.1234 should be entered as 12.34).

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