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Q1. The average annual return on the S&P 500 Index from 1986 to 1995 was 12.7%. The average annual T-bill yield during the same period

Q1. The average annual return on the S&P 500 Index from 1986 to 1995 was 12.7%. The average annual T-bill yield during the same period was 4.2%. What was the market risk premium during this time period? (Round your answer to two decimal places.)

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