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Youve observed the following returns on Mary Ann Data Corporations stock over the past five years: 17 percent, 4 percent, 20 percent, 12 percent, and

Youve observed the following returns on Mary Ann Data Corporations stock over the past five years: 17 percent, 4 percent, 20 percent, 12 percent, and 10 percent. Suppose the average inflation rate over this period was 2.7 percent and the average T-bill rate over the period was 5.4 percent. What was the average real risk-free rate over this time period?

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