Your online investing portal provides you with the following information: 30-day T-bills are currently yielding 4%; 1-year T-bonds are currently yielding 4.6%; the inflation premium is estimated at 1% for all bonds maturing during the next year; the liquidity premium for corporate bonds is 0.6%; the default risk premium for the highest rated corporate bonds is 1.5% and increases to 1.75% for AA-rated bonds and 2% for any A or BBB-rated corporate bonds. Given this information, what is the real risk-free rate of return?