The document provides a table of Treasury bill returns and inflation rates from 1976 to 1983. It asks to calculate the average real return on Treasury bills over this period. The solution shows the calculation of real return for each year by subtracting the inflation rate from the T-bill return. It then calculates the average real return over the 8 years by summing the annual real returns and dividing by 8, determining the average real return was 1.4162%.