McNels Corporation's 7-year bonds have a yield to maturity of 11.80%. On the other hand, 7-year T-bonds yield 7.40%. The real risk-free rate is 1.50%, the inflation premium for 7-year bonds is 5.30%, the default risk premium for Kay's bonds is 1.50%, and the maturity risk premium for all bonds is found with the formula MRP = (t-1) 0.1%, where t = number of years to maturity. What is the liquidity premium on McNel's bonds?