You read in The Wall Street Journal that 30-day T-bills are currently vielding 5.0%. Your brother-in-law, a broker at Safe and Sound Securities, has given you the following estimates of current interest rate premiums: Inflation premium - 2.75% Liquidity premium - 0.8% Maturity risk premium - 1.40% 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