Consider the following table for a seven-year period:

	Returns
Year	U.S. Treasury Bills		Inflation
Year 1	3.65	%	?1.19	%
Year 2	3.50		?2.33
Year 3	4.40		?1.23
Year 4	4.82		0.65
Year 5	2.62		?6.47
Year 6	1.50		?9.39
Year 7	1.23		?10.34

Required:

What was the average real return for Treasury bills for this time period? (Do not round intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places (e.g., 32.16).)

Average real return

%