2. Over the last nine years, you have earned the following returns on the NZX You have also collected the level of the CPI over the same period: (a) For each tax year, calculate the inflation rate. (b) Now calculate a real rate of return for the NZX50 (use the full formula, not the approximation) for each year. (c) What is the mean nominal return for the NZX50? What is the mean real return? (d) What is the nominal volatility for the NZX50? What is the real volatility of the NZX50? (e) Suppose New Zealand had a 33% tax levied on capital gains and all dividends. Repeat your analysis, calculating after-tax mean real and nominal returns, along with real and nominal after-tax volatilities