Assume these are the stock market and Treasury bill returns for a 5-year period:

Year		Stock Market Return				T-Bill Return
Year 1			35.73			3.10
Year 2			30.10			1.50
Year 3			15.56			.21
Year 4			2.38			.06
Year 5			18.26			.08

a.	What was the risk premium on common stock in each year? (Negative amounts should be indicated by a minus sign. Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.)

Year	Risk premium
Year 1	%
Year 2	%
Year 3	%
Year 4	%
Year 5	%

b.	What was the average risk premium? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

Average risk premium

%

c.	What was the standard deviation of the risk premium? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

Standard deviation

%