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You've observed the following returns on Pine Computer's stock over the past five years: 1 0 percent, - 1 0 percent, 1 7 percent, 2

You've observed the following returns on Pine Computer's stock over the past five years: 10 percent, -10 percent, 17 percent, 22 percent, and 10 percent. Suppose the average inflation rate over this period was 1.5 percent and the average T-bill rate over the period was 3 percent.
a. What was the average real return on the company's stock? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g.,32.16.
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