The real risk$-$free rate is $2\mathrm{.}35\%.$ Inflation is expected to be $3\mathrm{.}35\%$ this year, $4\mathrm{.}45\%$ next year, and $2\mathrm{.}2\%$ thereafter. The maturity risk premium is estimated to be $0\mathrm{.}05\backslash$times $($t $-1)\%,$ where t $=$ number of years to maturity. What is the yield on a $7-$year Treasury note? Do not round intermediate calculations. Round your answer to two decimal places.

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