The inflation premium is 4.2% per year, the liquidity premium is 0.3% per year, the maturity premium is 0.6% per year, and the default premium is 2.7% per year. If the risk-free interest rate is 7.1% per year, what is the annual real interest rate? 3.2% 3.3% 2.9% 3.1% 2.7%