Assuming a 1-year, money market account investment at 3.86 percent (APY), a 2.65% inflation rate, a 25 percent marginal tax bracket, and a constant $60,000 balance, calculate the after-tax rate of return, the real return and the total monetary return. What are the implications of this result for cash management decisions?

Assuming a 1-year, money market account investment at 3.86 percent (APY), a 25 percent marginal tax bracket, and a constant $60,000 balance the after-tax rate of return is ___%