You read in The Wall Street Journal that 30 -day T-bills are currently yielding 4.0%. Your brother-in-law, a broker at Safe and Sound Securities, has given you the following estimates of current interest rate premiums: - Inflation premium =3.25% - Liquidity premium =1.2% - Maturity risk premium =1.85% - Default risk premium =2.90% On the basis of these data, what is the real risk-free rate of return? Round your answer to two decimal places. %