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If, as a result of the disruption caused by the Covid-19 pandemic, the share market return in 2020 turns out to be 20%, explain what

If, as a result of the disruption caused by the Covid-19 pandemic, the share market return in 2020 turns out to be 20%, explain what will happen if we use a historical average to estimate the expected market risk premium next year. Discuss whether this makes sense and what we should do about it.

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