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3. The market risk premium is 14.4% and the risk-free rate is 2.6%. What is the expected return on the market? Enter your answer as

3. The market risk premium is 14.4% and the risk-free rate is 2.6%. What is the expected return on the market?

Enter your answer as a percentage rounded to 2 decimal places. (An answer of 23.456 would be entered as 23.46)

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