Use the table for the question(s) below.
Consider the following average annual returns: 
-What is the excess return for the S&P 500?
Definitions:
Balance Sheet
A financial statement that provides a snapshot of a company's financial condition at a specific moment in time, detailing assets, liabilities, and equity.
Statement of Realization
A financial report detailing the results of disposing of assets and settling liabilities in the context of liquidation.
Liquidation
The process of bringing a business to an end and distributing its assets to claimants, often associated with bankruptcy or dissolution.
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