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The market has an expected rate of return of 12.0 percent. The long-term govemment bond is expected to yield 4.8 percent and the U.S.

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The market has an expected rate of return of 12.0 percent. The long-term govemment bond is expected to yield 4.8 percent and the U.S. Treasury bil is expected to yield 2.3 percent. The inflation rate is 3.2 percent. What is the market risk premium? (Do not round Intermediate calculations and enter your answer as a percent rounded to 2 decimal places, ..32.16)

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