You read in The Wall Street Journal that 30-day T-bills are currently vielding 5.8%. 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% Liquidity premium - 1.2% Maturity risk premium 1.70% Default risk premium 2.30% On the basis of these data, what is the real risk-free rate of return? Round your answer to two deomal places 46