An investor bought a stock for $$16($at $t=0)$ and one year later it paid a $$3$ dividend $($at $t=1).$ Just

after the dividend was paid, the stock price was $$11($at $t=1).$ Inflation over the past year $($from

$t=0$ to $t=1)$ was $2\%$ pa$,$ given as an effective annual rate. Which of the following statements is

NOT correct? All answer options are rounded to $6$ decimal places. The stock investment

produced a:

Select one:

a$.$ Nominal capital return of $-31\mathrm{.}25\%$ pa$.$

b$.$ Nominal income return of $18\mathrm{.}75\%$ pa$.$

c$.$ Real capital return of $-32\mathrm{.}598039\%$ pa$.$

d$.$ Real income return of $12\mathrm{.}637868\%$ pa$.$

e$.$ Real total return of $-14\mathrm{.}215686\%$ pa$.$

Clear my choice