Jumbo Co. is considering the following two mutually exclusive projects. The cash flows for project A are expressed in nominal terms, while those of project B are expressed in real terms. The appropriate nominal discount rate is 7% and the inflation rate is 4%. Using the exact Fisher equation, calculate the real discount rate. (Enter percentages as decimals and round to 4 decimals).

Year	Project A	Project B
0	-135,000	-100,000
1	40,000	35,000
2	40,000	35,000
3	40,000	30,000
4	50,000	30,000
5	60,000	30,000