The risk-free interest rate is 3.9% per year, the liquidity premium is 0.2% per year, the maturity premium is 0.6% per year, the inflation premium is 1.6% per year, and the default premium is 2.9% per year. What is the annual real interest rate? 1) 2.1% 2) 1.7% 03) 1.9% 4) 1.5% 5) 2.3%