Consider the following table for a seven-year period:

	Returns
Year	U.S. Treasury Bills		Inflation
Year 1	4.20	%	1.30	%
Year 2	4.05		2.44
Year 3	4.95		1.34
Year 4	5.37		0.76
Year 5	3.17		6.58
Year 6	2.05		9.50
Year 7	1.78		10.45

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

%