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An investment has returned 11%, 2%, -2%, 1%, and 19% in each of the last five years. If we decide to use historical returns as

An investment has returned 11%, 2%, -2%, 1%, and 19% in each of the last five years. If we decide to use historical returns as a proxy for expected future returns, what is the expected rate of return? (Please answer as a percentage with no percent sign, showing 4 significant digits.)

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