Question: Consider the following average annual returns: Investment Average Return Small Stocks 20.6% S&P 500 15.9% Corporate Bonds 7.5% Treasury Bonds 6.2% Treasury Bills 3.3% The

Consider the following average annual returns:

Investment Average Return

Small Stocks 20.6%

S&P 500 15.9%

Corporate Bonds 7.5%

Treasury Bonds 6.2%

Treasury Bills 3.3%

The excess return for the portfolio of small stocks is _____%.

(Please write percentage as a number with one decimal place, no "%" sign. e.g. write "12.34%" as "12.3")

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