The inflation premium is expected to be 1.40% next year, 1.51% in year 2, 1.68% in year 3, and 2.10% in year 4. It is expected to remain constant after year 4. The real risk-free rate is 1.95%. You have determined the following additional information about Gerald's Corporations bonds: the default risk premium is 3.08%, the liquidity risk premium is 1.64%, and the maturity risk premium is 0.0015 * n, where n is the number of years until maturity If the bonds mature in 15 years. Solve for required return on bonds.