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You've developed a trading strategy that can beat the market by 4 . 0 % per year. The annual turnover of your strategy is 2

You've developed a trading strategy that can beat the market by 4.0% per year. The annual turnover of your strategy is 2.9 times per year. The round-trip trading and tax costs of your strategy is 13 basis points. What is the net return on your strategy relative to the baseline market return? Give your answer in percentage to the nearest basis point.

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