On the first day of your summer internship, you've been assigned to work with the Chief Financial Officer $($CFO$)$ of SanBlas Jewels Inc. Not knowing how well trained you are, the CFO has decided to test your understanding of interest rates. Specifically, she asks you to provide a reasonable estimate of the nominal interest rate for a new issue of AAA$-$rated bonds to be offered by SanBlas Jewels Inc. The final format that the chief financial officer of SanBlas Jewels has requested is that of equation $(2-1)$ in the text:

Nominal interest rate $=$ real risk free interest rate $+$ inflation premium $+$ default$-$risk premium

$+$ maturity$-$risk premium $+$ liquidity$-$risk premium

Some agreed$-$upon procedures related to generating estimates for key variables in equation $(2-1)$ follow.

a$.$ The current $3-$month Treasury bill rate is $2\mathrm{.}88$ percent. the $30-$year Treasury bond rate is $5\mathrm{.}39$ percent, the $30-$year AAA$-$rated corporate bond rate is $6\mathrm{.}59$ percent, and the inflation rate is $2\mathrm{.}12$ percent.