A bond par value is $1,000 and the coupon rate is 5.5 percent. The bond price was $946.30 at the beginning of the year and $981.24 at the end of the year. The inflation rate for the year was 2.8 percent. What was the bond's real return for the year?

• 6.52%

• 5.61%

• 6.96%

• 9.50%

• 5.71