You read in$$The Wall Street Journal$$that $30-$day T$-$bills are currently yielding $4\mathrm{.}8\%.$ Your aunt, a broker at Morgan Stanley, has given you the following estimates of current interest rate premiums:

Inflation Premium $3\mathrm{.}25\%$

Liquidity premium $0\mathrm{.}60\%$

Maturity rsik premium $1\mathrm{.}85\%$

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

On the basis of this data, what is the real risk$-$free rate of return?