3 percent. What interest rate would you expect on U.S. government T-bills? Round your answer to two decimal places. % %

11. Problem 1-12 eBook Problem 1-12 Assume that the consensus required rate of return on common stocks is 14 percent. In addition, you read in Fortune that the expected rate of inflation is 6 percent and the estimated long-term real growth rate of the economy is 3 percent. What interest rate would you expect on U.S. government T-bills? Round your answer to two decimal places. What is the approximate risk premium for common stocks implied by these data? Do not round intermediate calculations. Round your answer to two decimal places.