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The average annual return on the S&P 500 Index from 1996 to 2005 was 18.94 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 18.94 percent. The average annual T-bill yield during the same period was 3.94 percent. What was the market risk premium during these ten years? (Round your answer to 2 decimal places.) Average market risk premium

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