Suppose we have the following Treasury bill returns and inflation rates over an eight year period:

Year	Treasury Bills	Inflation
1	8.81%	10.60%
2	9.66	14.18
3	7.42	8.59
4	6.52	6.21
5	7.00	8.35
6	9.29	10.77
7	12.11	14.92
8	13.85	14.60

c.	What was the average real return for Treasury bills over this period? (Negative amount should be indicated by a minus sign. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Average real return

%