Arya Co. is considering the following two mutually exclusive projects. The cash flows for project A are expressed in nominal terms, while those of project B are expressed in real terms. The appropriate nominal discount rate is 9% and the inflation rate is 3%. Using the exact Fisher equation, calculate the real discount rate. (Enter percentages as decimals and round to 4 decimals).

Year	Project A	Project B
0	-220,000	-180,000
1	60,000	65,000
2	60,000	65,000
3	60,000	40,000
4	90,000	40,000
5	90,000	40,000