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

Inflation premium $=3\mathrm{.}50\%$

Uquidity premium $=0\mathrm{.}6\%$

Maturity risk premium $=2\mathrm{.}30\%$

Default risk premium $=2\mathrm{.}75\%$

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

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