You read in The Wall Street Journal that 30-day T-bills are currently yielding 5.1%. 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 - 0.5% Maturity risk premium - 1.55% Default risk premium - 2.60% On the basis of these data, what is the real risk-free rate of return? Round your answer to two decimal places