You read in The Wall Street Journal that 30-day T-bills are currently yielding 4.8%. Your brother-in-law, a broker at Safe and Sound Securities, has give you the following estimates of current interest rate premiums: Inflation premium = 2.50% Liquidity premium = 0.3% Maturity risk premium = 1.40% 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 decimal places