Question: 1. A certain mutual fund earned an average annual return of 6.5% over the last 5 years. During that time, the average risk-free rate was

1. A certain mutual fund earned an average annual return of 6.5% over the last 5 years. During that time, the average risk-free rate was 0.8% and the average market return was 11.1%. If the fund has beta of 0.75, what was its annual alpha? Answer in percent, round 2 decimal places

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