You expect the inflation rate to be 3.8 percent and the U.S. Treasury bill yield to be 3.9 percent for the next year. The risk premium on small-company stocks is 12.6 percent. What nominal rate of return do you expect to earn on small-company stocks next year?

	15.5 percent
	8.8 percent
	9.2 percent
	16.8 percent
	16.5 percent