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a mutual fund earned an average annual return of 7.0% over the last 5 years. During that time, the average risk-free rate was 1.0% and

a mutual fund earned an average annual return of 7.0% over the last 5 years. During that time, the average risk-free rate was 1.0% and the average market return was 7.1%. If the fund has beta of 0.87, what was its annual alpha?

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