A particular security's default risk premium is 5 percent. For all securities, the Inflation risk premlum is 4.80 percent and the real risk- free rate is 2.30 percent. The security's liquidity risk premium is 0.20 percent and maturity risk premlum is 0.80 percent. The security has no special covenants. Calculate the security's equilibrium rate of return. (Round your answer to 2 decimal places.) Rate of retum %