Government economists have forecasted one-year T-bill rates for the following five years, as follows:
Year 1-year rate
1 4.00%
2 5.50%
3 5.50%
4 6.00%
5 6.50%
You have liquidity premium 0.20% for the next two years and 0.40% thereafter. What would be your required return on a four-year bond?