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Consider the following table for a seven-year period: Year 1926 1927 1928 1929 1930 1931 1932 MT Returns U.S. Treasury Bills Inflation 3.30% -1.12% 3.15

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Consider the following table for a seven-year period: Year 1926 1927 1928 1929 1930 1931 1932 MT Returns U.S. Treasury Bills Inflation 3.30% -1.12% 3.15 -2.26 4.05 -1.16 4.47 .58 2.27 -6.40 1.15 -9.32 88 -10.27 What was the average real return for Treasury bills for this time period? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Average real return

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