You read in The Wall Street Journa$/$ that $30-$day T$-$bills are currently yielding $5\mathrm{.}3\%.$ Your brother$-$in$-$law, a broker at Safe and Sound Securities, has given you

the following estimates of current interest rate premiums:

Inflation premium $=2\mathrm{.}75\%$

Liquidity premium $=1\mathrm{.}1\%$

Maturity risk premium $=2\mathrm{.}15\%$

Default risk premium $=2\mathrm{.}15\%$

On the basis of these data, what is the real risk$-$free rate of return? Round your answer to two decimal places.