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A mutual fund earned an average annual return of 9.0% over the last 5 years. During that time, the average risk-free rate was 0.8% and
A mutual fund earned an average annual return of 9.0% over the last 5 years. During that time, the average risk-free rate was 0.8% and the average market return was 6.7%. If the fund has beta of 0.96, what was its annual alpha? Answer in percent, rounded to two decimal places. (e.g., 4.32% = 4.32).
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