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10.9: The average annual return on the S&P 500 Index from 1986 to 1995 was 9.80 percent. The average annual T-bill yield during the same

10.9: The average annual return on the S&P 500 Index from 1986 to 1995 was 9.80 percent. The average annual T-bill yield during the same period was 2.40 percent.

What was the market risk premium during these ten years? (Round your answer to 2 decimal places.)

Average market risk premium______

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