The real risk-free rate is 3.05%. Inflation is expected to be 4.05% this year, 4.65% next year, and 2.3% thereafter. The maturity risk premium is estimated to be 0.05×(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.