You read in The Wair Street dournal that 30 -day T-bills are currently yieiding 4.5%. Your brother-in-law, a broker at Safe and Sound Securities, has given you the following estimates of current interest rate premiums: - Inflation premium =3.50% - Licuidity premium =1,2% - Maturity risk premium =2.30% - Default risk premium =2.45% On the basis of these data, what is the real risk-free rate of return? Round your answer to two decimal places. %