Real Risk$-$Free RateYou read in$$The Wall Street Journal$$that

$30-$day T$-$bills are currently yielding $6\%.$ Your brother$-$in$-$law, a

broker at Safe and Sound Securities, has given you the following

estimates of current interest rate premiums:Inflation premium $=2\mathrm{.}5\%$Liquidity premium $=0\mathrm{.}9\%$Maturity risk premium $=1\mathrm{.}85\%$Default risk premium $=2\mathrm{.}45\%$On the basis of these data, what is the real risk$-$free rate of

return? Round your answer to two decimal places.