Market indices are used as the proxy for the overall market and performance. The current value of such a market index is 903.25. Analysts expect the earnings of the firms in the index to grow at a 4.5% rate over the next 4 years. The dividend and the stock buyback yield on the index firms is 5.82%. After 4 years, you expect the growth rate to settle down to the 2.5% (same rate as the GDP growth rate). What is the implied market risk premium if the risk free rate is 2%?