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The average annual return on the S&P 500 Index from 1996 to 2005 was 17.07 percent. The average annual T-bill yield during the same period

The average annual return on the S&P 500 Index from 1996 to 2005 was 17.07 percent. The average annual T-bill yield during the same period was 4.07 percent. What was the market risk premium during these ten years?

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