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The semiannual bond equivalent yield spot rates for US Treasury yields are provided below.
| Period | Years | Spot Rate |
|---|---|---|
| 1 | 0.5 | 1.20% |
| 2 | 1.0 | 2.10% |
| 3 | 1.5 | 2.80% |
| 4 | 2.0 | 3.30% |
On a semiannual bond equivalent yield (BEY) basis, the six-month forward rate one year from now is closest to: