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The average annual return on the S&P 500 index from 1986 to 1995 was 17.6 percent. The average annual T-bill yield during the same period
The average annual return on the S&P 500 index from 1986 to 1995 was 17.6 percent. The average annual T-bill yield during the same period was 9.8 percent. What was the market risk premium during these 10 years?
8.2 percent
7.8 percent
8.8 percent
9.8 percent
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