Consider the following table for an eight-year period:

Year

T-bill return

Inflation

1

7.35

%

8.65

%

2

8.34

12.28

3

5.93

6.88

4

5.37

4.92

5

5.51

6.64

6

7.94

8.96

7

10.62

13.23

8

12.40

12.46

Calculate the real return for each year. (A negative answer should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

Year	Real return
1	%
2	%
3	%
4	%
5	%
6	%
7	%
8	%