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The average annual return on an Index from 1986 to 1995 was 12.20 percent. The average annual T-bill yield during the same period was 5.80

The average annual return on an Index from 1986 to 1995 was 12.20 percent. The average annual T-bill yield during the same period was 5.80 percent.

What was the market risk premium during these ten years? (Round your answer to 2 decimal place.)

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