In a perfectly efficient market, an active strategy mutual fund that charges a 1% fee has about a 47% chance of beating the index net of fee (and thus 53% chance of failing to do so). In a universe of 5,000 funds, how many funds would you expect to beat the index all but once out of the past 8 years? In other words, the fund would fail to beat the benchmark in one of the 8 years. Enter answer accurate to two decimal places.