Over a 46-year period an asset had an arithmetic return of 11.9 percent and a geometric return of 9.8 percent.

Using Blumes formula, what is your best estimate of the future annual returns over 8 years? 13 years? 23 years? (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

Future annual returns
8 years	%
13 years	%
23 years	%